Income tax on Amazon Gift Card received from Employer

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.

Yes it should be treated as gift from employer

Can you share under which section deduction can be claimed while filing ITR?

Gifts from employer up to Rs.5k pa is exempt. Anything exceeding the limit would be fully taxable.
Agree with poornima

If I were to claim a deduction of Rs 5000, under which section can I claim while filing ITR

It's not a deduction. Disclose it under exempt income.

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