Income tax on gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2012
Hi,
Let me know upto what value of money can be gifted by a partnership firm/company to its director on his marriage
Let me know upto what value of money can be gifted by a partnership firm/company to its director on his marriage
CA PARAS BAFNA
(Expert)
11 February 2012
It is better to give a gift of Rs. 5000/(Max.)- only, otherwise the director will require to pay tax on excess amount received from his employer.
.
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