Regarding gift...
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2014
One of our client received cash as gift from their company on the occasion of Christmas, is that amount taxable?..if so, is their any exemption limit? He is one of the Director in that company.
21 March 2014
yes it is taxable as directors remumneration....
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Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2014
In case if he is a normal employee in that company, is this same rule is applicable? i mean taxable under salary.
21 March 2014
yes as only gifts from relatives is non taxable...
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