taxability of gifts
This query is : Resolved
04 March 2010
An employee recieves a gift(in kind) from his employer. the aggregate value of which exceeds rs 50000.
is it taxable in the hands of employee according to recent amendments and if yes then under which head-u/h salary or u/h I/O/S ?
pls help me
is it taxable in the hands of employee according to recent amendments and if yes then under which head-u/h salary or u/h I/O/S ?
pls help me
27 March 2010
When there exists an employee - employer relationship and anything is received from the employer by the employee, then such receipt, in cash or kind, is to be considered as salary.
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