Asha ltd. gives a gift worth rs.7500 to its employee, Akanksha, on her birthday what will be the taxable value of the gift in the hands of Akanksha ?
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Income under the head salaries
Replies (2)
Hi
Since It exceeds Rs. 5000 whole amt is taxable.
Thanks
Exemption in case of gift to Employee is exempted Rs. 5000 anything beyond the limit will be compounded and will be taxed on the whole amount...
In your Case total 7500 will be treated as gift and will be taxed...
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