02 February 2018
Dear Sirs, I am running my own business . I purchased a Jewel for Rs.40,000 and the same was gifted to one of my employees whose daughter got married recently.
Can I book the entire amount as Staff Welfare Expenses ??
03 February 2018
You can book the entire amount as staff welfare expenses . However this amount in excess of Rs.5000 will be added as a perquisite in the hands of employee and will be taxed as salary income.
CAclubindia
