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Meaning of gift under FBT

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(Querist)
12 June 2009 HI Friends,

Please clerify me meaning of gift under fbt.

If com distribute some item (quantity purchased from market)to its employee on the occassion of festival celebration.
what is this
1) Gift (5%)
2) festival celebration(20%)

Thanks
Suraj
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Jitender

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Jitender (Expert)
12 June 2009 it will be festival celebration becz specific clause prevails over general clause.
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
12 June 2009 agree with Jitender ji
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
12 June 2009 I also agree with the views of experts.

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