Cash equivalent prize
This query is : Resolved
25 April 2014
Where an assessee received cash equivalent to a gift (ambassador car) under a scheme of a company for achieving a target .is it taxable in the hand of assessee? if yes then which head in taxable?
Nikhil Kaushik
(Expert)
26 April 2014
yes it is taxable. if you are an employee, then under salary. if not, then under income from other sources.
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