Tax applicability on gifts to employee
This query is : Resolved
11 December 2012
One of our employee was gifted apple product for success of project, he was informed to purchase any apple product of his own choice for INR 100,000 and get reimbursed, please let me know tax consequences of that gift in had of employee i mean responsibility of employer while giving that reimbursement.. whether it should be taxed as perquisite @ employees Income slab rates or as gift tax @30% on INR 100,000 & pay balance INR 70,000...quick revert will be more helpful.
12 December 2012
It will be taxed in the hands of the employee.
12 December 2012
It will be taxed at his slab rate or at MMR I.e 30%
12 December 2012
It will be taxed at his slab rate or at MMR I.e 30%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- ITR-3 File/Error Found
- ASMT-10 received from A O
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Average Cost Of High Quality Diamonds
- Due Date Clarity
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
