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Gold coins gifted by employer-gift tax paid-reflect in tds ?

TDS / TCS 4800 views 3 replies

Central Bank of India  has gifted Gold coins to its employees on its Silver Jubilee Occassion. On these gifts the Bank(employer) paid Gift Tax.

This Gift Tax is paid through Challan No.281.

The ? is :-

This tax payment reflects in 24Q TDS return...........if so ..........where.......then where it reflects in Form 16.

If not ........where ...?............suggest where  this challan  payment reflects.

This may be treated as urgent as the quarterly returns filing date is tomorrow.

 

 

Replies (3)

Show it in Perquisites!!

gift tax no longer exists, you are referring to TDS. show the fair value of gold coins on the date it is distibuted in perquisites

agree with pulkit....its tds n not gift tax...


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