Gift from Employer

Tax planning 5466 views 10 replies

HELLOW FRIENDS

PLZ TELL ME THE PROVISION FOR TAXING GIFT FROM EMPLOYER

Replies (10)

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............

Originally posted by : SUNIL SINGH
sorry
 
 


 

gift below 5000 is not taxable and in kind is exempt

below 5000 no tax above 5000 is fully taxable


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