Tax on Car gifted to Super Stockist

If the car gifted by the company to its stockist for achiving sales target..........

than it is taxable under head salary..................

Amount Exempt max Rs 5000 and remaining shall become taxable if it is a new car.............

Dear Rachit,

Super stockists are not salaried persons that getting salary from the firm.

Super stockist is the one who stocks company's product to
further supply to the wholesalers, dealers, retailers. Most important thing is that the all the stocks
are paid.

thanks for correcting me sir..........

and then the same amount shall be taxable as gift.............