13 July 2020
Dear sir, I have one doubt regarding marriage gift, in our company as a policy at the time of marriage of employee our company gives a cheque of Rs 5000/ Rs 7500 to employees. whether it is taxable or not. and also tell me the difference between gift under the head salaries and income from other sources.
13 July 2020
Gift received from the employer, of a sum exceeding Rs 5,000, is treated as taxable to employees. Inference :- Section 17(2)(viii) and Rule 3(7)(iv).
CAclubindia
