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Cash award to employees of PSU

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(Querist)
13 January 2010 I am working in Kerala state Electricity Board, a PSU run by Kerala Government. Recently a cash award of Rs. 2500 was given to some employees for their meritorious service in their work. Is this taxable as per prevailing income tax rules? Thanks in advance
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CA. Pradeep Nayak

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CA. Pradeep Nayak (Expert)
13 January 2010 as there exist a employee-employer relationship, the same is taxable in hands of employees as salary
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Rahul Vora

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Rahul Vora (Expert)
14 January 2010 it will be taxable as salary
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sivasankar

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sivasankar (Expert)
16 January 2010 Any payment received by employer unless it is exempted by the act will be taxable.Only a list of rewards and awards are exempted.Your reward is not covered by the list.
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