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prabhakar BURNING FIRE (Querist)
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16 April 2010 As we know that gift given to any person on occasion of marriage is exempted.
But shall the rule apply in case of gift given by employer to employee in same occasion because the rule stae gift in kind is taxable if exceed rs.5000 and cash gift is taxable from zero point.

for eg: gift given by employer to employee in occasion of marriage of rs.50000.
WHAT SHALL BE THE TREATMENT?

PLEASE ITS URGENT.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 April 2010 Tax free vide clause (b) of second proviso to section 56(2)(vii) of the Income tax Act,1961.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 April 2010 AGREE. GIFTS ON OCCASION OF MARRIAGE IS NOT CHARGEABLE TO TAX. FURTHER MARRIAGE GIFT MAY BE RECEIVED FROM RELATIVES, FRIENDS OR ANY OTHER PERSON.

prabhakar BURNING FIRE

prabhakar BURNING FIRE (Querist)
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18 April 2010 thanks a lot,sir

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