GIFT FROM EMPLOYER
This query is : Resolved
SIJU VARGHESE
(Querist)
29 April 2010
Sir,
An employee got Cash Gift Rs.1,00,000/- ,on his better performance, from his Employer. Whether this will come under the head "Salary" or " Income from other Sources"
And at which percentage the employer has to deduct tax?
Please Reply
Thanks in Advance
An employee got Cash Gift Rs.1,00,000/- ,on his better performance, from his Employer. Whether this will come under the head "Salary" or " Income from other Sources"
And at which percentage the employer has to deduct tax?
Please Reply
Thanks in Advance
Aditya Maheshwari
(Expert)
29 April 2010
The above gift is like bonus paid to the employee and hence taxable under the head salary and taxable at normal slab rates
ca dipti sharma
(Expert)
29 April 2010
It will covered under the head of salary income and will be tax as per slab rate applicable in your case.
CA Ravi Sisodia
(Expert)
29 April 2010
Agree with CA Dipti.
CMA Ramesh Krishnan
(Expert)
02 May 2010
It will be taxed under Income from Salary
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