Dear friends,
Please provide your valuable suggessions on the follwoing.
Gift vouchers(earch voucher worth rs. 500) for employees purchased by company through cash for Rs.50000. For this purpose a self cheque has been drawn to pay that cash Rs 50000.
Does it cover u/s 40 A(3) of Income Tax?
Shall I add this gift voucher amount( each amount is below exempted limit of rs. 5000) to the salaries of the employee in their salaries structures?
CAclubindia
