Learner
4016 Points
Joined December 2009
SUNIL MY FRIEND, I M AFRAID BUT U R INCORRECT AGAIN..GIFTS FROM EMPLOYER IS COVERED UNDER VALUATION OF PERQUISITE AND VALUE EXCEEDING RS. 5,000/- WILL BE TAXABLE AS SALARY...
THE PROVISION WHICH U HAVE MENTIONED SHALL APPLY IN CASE OF GIFTS RECEIVED FROM A PERSON OTHER THAN EMPLOYER...