Gift from employer
This query is : Resolved
09 October 2010
Employer gives a ring worth Rs. 52000/- to an employee on his 50th birthday on 15.01.2010. How will it be treated while computing taxable income of employee?
09 October 2010
Gift in kind from employer is Taxable as perquisites. Gift upto Rs 5000 is exempted.
11 October 2010
GIFTS UPTO RS 5000 IN AGREEGATE PER ANNUAN WOULD BE EXEMPT, BEYOND WHICH IT WOULD BE TAXABLE.
CIRCULAR NO. 15/2001, DATED DECEMBER 12, 2001
SO IN YOUR CASE RS 47000/- WILL BE TAXABLE.
CIRCULAR NO. 15/2001, DATED DECEMBER 12, 2001
SO IN YOUR CASE RS 47000/- WILL BE TAXABLE.
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