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Tax Liability of Gifts received as Cash/Cheque from employer
what are the provision of taxability of gifts received from the employer in cash/cheque or convertible into cash. ????
Replies (6)
If received on occasion of marriage then not taxable at all.
If received less than 50,000/- INR the not taxable or else fully taxable.
my question was...if cash gifts received from the employer.......
My answer was for your question only.
.My question was what is the tax liability of cash gifts received from my employer.....as a perquisites....
gift received in kinds up-to rs 5,000 p. a. is not taxable .in excess of rs 5,000 (gift in kind) is taxable
were as cash gift / cheque gift is taxable without any ceiling limit
were as cash gift / cheque gift is taxable without any ceiling limit
thanks to everyone....for the replies
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