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GIFT FROM EMPLOYER

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(Querist)
29 April 2010 Sir,

An employee got Cash Gift Rs.1,00,000/- ,on his better performance, from his Employer. Whether this will come under the head "Salary" or " Income from other Sources"
And at which percentage the employer has to deduct tax?


Please Reply


Thanks in Advance
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
29 April 2010 The above gift is like bonus paid to the employee and hence taxable under the head salary and taxable at normal slab rates
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ca dipti sharma

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ca dipti sharma (Expert)
29 April 2010 It will covered under the head of salary income and will be tax as per slab rate applicable in your case.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
29 April 2010 Agree with CA Dipti.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
02 May 2010 It will be taxed under Income from Salary

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