GIFT FROM EMPLOYER
This query is : Resolved
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
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
29 April 2010
It will covered under the head of salary income and will be tax as per slab rate applicable in your case.
29 April 2010
Agree with CA Dipti.
02 May 2010
It will be taxed under Income from Salary
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
