Allowance of gifts
Querist : Anonymous
I would like to know whether cash gifts paid by company to its employees is an allowable expenditure?
Also will the same be included in the income of employees as salary or perks.
In the hands of employee, cash gift is fully taxable, you can add as perks
Exemption Rs.5000/- only available gift in kind or non cash or voucher. incase cash gift it is fully taxable, no exemption available
Cash Gift is fully Taxable....
Querist : Anonymous
Then we would have to deduct TDS also on the same.
Querist : Anonymous
Go with simple way add it to salary and deduct TDS on salary U/S 192...
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