What is the tax treatment under Income Tax of Gift to Employee from Employer, on the occasion of Marriage of Employee, in form of- (i) Money, (ii) In kind ?
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Gift to Employee from Employer.
Replies (4)
On the occasion of marriage, gift received by the assessee is fully exempt. GIFT may be in the form of cash or kind.
It is taxable if amount received is above 50000
It won't be taxable since the money/kind is received on the "occasion of marriage" other than this scenario it'll be taxable if exceeds Rs 50,000
Yes, any gift received from any person on account of marriage is exempt.
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