Gift by employer
This query is : Resolved
rishaiqbal
(Querist)
15 November 2015
is cash or cheque gift by employer taxable?
15 November 2015
Gift from Non relative is taxable. Employer's gift is taxable.
16 November 2015
If the aggregate value of gift received by the employee from employer, during the previous year, does not exceeds Rs. 5,000/- then such Gift is not taxable in the hands of employee. If gift received during the previous year exceeds Rs. 5,000, then whole amount of gift received will be chargeable to tax.
Refer Rule 3 of Income tax Rules.
Refer Rule 3 of Income tax Rules.
rishaiqbal
(Querist)
21 November 2015
thank you so much....
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