Gift from employer to employee on his marriage
This query is : Resolved
15 February 2019
Dear Expert,
I have 2 queries, regarding if Employer given Gift i.e. one month Salary Chq (Rs.45000/-) to his one employee on his Marriage i need following clarification:
1) This amt received by Employee will be treat as income and need to be add in his computation of income or this will be exempt under any section ?
2) This amt given by Employer will be book under P& L Expense a/c and is there any things need to be do by company?
Please suggest
Thanks
I have 2 queries, regarding if Employer given Gift i.e. one month Salary Chq (Rs.45000/-) to his one employee on his Marriage i need following clarification:
1) This amt received by Employee will be treat as income and need to be add in his computation of income or this will be exempt under any section ?
2) This amt given by Employer will be book under P& L Expense a/c and is there any things need to be do by company?
Please suggest
Thanks
27 September 2021
1. Yes, exempt u/s. 56(2) of IT act.
2. It may be booked; but likely to get disallowed for tax-ability.
2. It may be booked; but likely to get disallowed for tax-ability.
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