Hi Experts,
Whether the purchase of customized Diwali sweet box for employees by the employer is taxed at the hands of employee as "Gift under perquisite Tax" . The value per sweet box is Rs.7000
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Purchase of Sweet Box for Diwali
Replies (3)
Gifts from employers to employees (including customized gifts) are exempt up to Rs. 5,000 per financial year. If the sum exceeds this limit, the whole amount is taxable as a "Gift under Perquisite Tax" as per Indian Income Tax law., regardless of customization.
Thank you Sir for the response.
You are welcome.
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