Gift perks - taxability
This query is : Open
04 March 2014
If a company pays Rs 5000/- via interbank transfer to all employees on occasion of Diwali.
What is the tax treatment in hands of employee?
What if employee submits the bill of
purchase of gift worth Rs 5000/- ?
What is the tax treatment in hands of employee?
What if employee submits the bill of
purchase of gift worth Rs 5000/- ?
04 March 2014
Gifts not exceeding Rs. 5,000/- are EXEMPT in the hands of the employee.
CA Hardik Bunha
(Expert)
04 March 2014
below rs. 5000 will not be considered as perquisite. not taxable to employee.
above rs 5000 will be table under head salaries.
above rs 5000 will be table under head salaries.
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