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Perquisites

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(Querist)
27 March 2012 I want to know that what should be the treatment if an employee receives the GIFT IN KIND from his employer above Rs.5000 ?
What would be the taxable perquisite...
a)whole amount of gift? or
b)amount exceeding Rs.5000?
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CA Nagaraj Bhat

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CA Nagaraj Bhat (Expert)
29 March 2012 Amount exceeding Rs. 5,000/- will be taxable.
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Pankaj

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Pankaj (Querist)
29 March 2012 thank u sir......
but in our study material it is given that if amt exceeds Rs.5000, den it is fully taxable.....????
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