Gift from Employer

SORRY OF ALL BY MISTAKE ONLY UNDERSTANDING AND ALL CORRECT ANSWAR EMPLOYER GIFT IS TAXABLE AS PER ACT

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...

ya gift frm employer is taxable as perq..........

yes taxable as perks........

As always Amir is right again n i agree with him 

as per section 17(2)(vi), Rule 3(7) vi if the employer has given gift to the employee in kind and aggregate value of all the gifts during a particular year is not exceeding rs. 5000, in that case it is exempt, otherwise excess over it is taxable.

i agree with amir............

gift below 5000 is not taxable and in kind is exempt

below 5000 no tax above 5000 is fully taxable