Gift from employer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2014
sir/mam
in case if an employer provides any gift in cash to the extent of 50000, to his employee on marriage then what should be the treatment is it taxable under salary(as gift in cash is fully taxable) or other sources(as gift upto 50000 is exempt)
in case if an employer provides any gift in cash to the extent of 50000, to his employee on marriage then what should be the treatment is it taxable under salary(as gift in cash is fully taxable) or other sources(as gift upto 50000 is exempt)
Nikhil Kaushik
(Expert)
21 May 2014
I am of the view that it can be included in other sources (please note that there is no limit on gifts received on marriage).
some may argue that it should be included in salary as the gift was received from employer and is in excess of Rs 5000 (exempted limit under salary). That argument will hold good if the employer has a policy of giving a certain amount of gifts to all employees as per terms of employment. Otherwise no.
some may argue that it should be included in salary as the gift was received from employer and is in excess of Rs 5000 (exempted limit under salary). That argument will hold good if the employer has a policy of giving a certain amount of gifts to all employees as per terms of employment. Otherwise no.
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Rupesh Jain
(Expert)
21 May 2014
it will include in salary income of employee.
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