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Gift in cash or in kind

This query is : Resolved 
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(Querist)
02 September 2009 what is the exemption limit for gift in both cases
in cash
and in kind?
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Nischint Kumar Somani

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Nischint Kumar Somani (Expert)
02 September 2009 in cash 50000.00

in kind no limit
but financial budget 2009 has changed the provision, now if u transfered immovable assets than same will be covered under gift, but it is also exempted up to rs 50000.00
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Bipin.M.Patel

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Bipin.M.Patel (Querist)
02 September 2009 What if a co want to give Rs 10000 to it's employees in both cases
in cash
in kind ?

as now the FBT is not more applicable.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
02 September 2009 gift provision is not applicable to company.
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Bipin.M.Patel

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Bipin.M.Patel (Querist)
02 September 2009 so what would be the implication?
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Bipin.M.Patel

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Bipin.M.Patel (Querist)
02 September 2009 so what would be the implication?
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
02 September 2009 income in the hands of employee
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
02 September 2009 That will be added to the income of the employee
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