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Income tax on Amazon Gift Card received from Employer

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Aayush Gupta

Manager

25 Points Posted on 04 August 2021

Hi Gurus

My employer has given gift cards to me in the last financial year (Amount: 30,000). However, the same has been captured under the head Value of perquisites under section 17(2) (as per Form No. 12BA, wherever applicable). Can I claim a tax deduction on this amount as it was in the form of a Gift? If yes, under which section and how much amount can be claimed under deduction?

Thanks

Aayush

Replies (6)

Quick Summary

An employee received a £30,000 Amazon gift card from their employer, which was recorded as a 'perquisite' on their tax form. They inquired if this gift could be claimed as a tax deduction. The consensus is that gifts from employers are taxable income, with an exemption up to £5,000 per year. Any amount exceeding this limit is fully taxable and should be declared as exempt income rather than claimed as a deduction.