Gift to employee
This query is : Resolved
19 July 2016
Good Day!
my company is planning to gift a bike to our company employee son, kindly let me know weather company will book this as a expenses or asset.
smita
my company is planning to gift a bike to our company employee son, kindly let me know weather company will book this as a expenses or asset.
smita
CA SUNIL K GARG
(Expert)
19 July 2016
Value of gift made by employer to employee will be taxable in the hand of employee and it is considered to be as perquisites.
The company can not show it as fixed assets in the books of the company. The value of gift is to included in the salary of employee while calculating profit of the company.
The company can not show it as fixed assets in the books of the company. The value of gift is to included in the salary of employee while calculating profit of the company.
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