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Gift by employer

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(Querist)
15 November 2015 is cash or cheque gift by employer taxable?
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shivaji prasad bhimavarapu

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shivaji prasad bhimavarapu (Expert)
15 November 2015 Gift from Non relative is taxable. Employer's gift is taxable.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
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.
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rishaiqbal

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rishaiqbal (Querist)
21 November 2015 thank you so much....
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