Perquisites
This query is : Resolved
28 March 2012
Dear Sir,
plz tel me the taxable perq. value of GIFT IN KIND,
THE exemption is Rs.5000.
so taxability is amt exceeding Rs5000, or
if amt exceeds 5000 then whole amt of gift is taxable....?
plz tel me the taxable perq. value of GIFT IN KIND,
THE exemption is Rs.5000.
so taxability is amt exceeding Rs5000, or
if amt exceeds 5000 then whole amt of gift is taxable....?
29 March 2012
Hello,
Value of gift less RS.5000/- is taxable.For example value of the gift is Rs. 8000/- then Rs.3000/- will be taxable.
Lekh Sood
Value of gift less RS.5000/- is taxable.For example value of the gift is Rs. 8000/- then Rs.3000/- will be taxable.
Lekh Sood
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29 March 2012
thank u sir......:)
but in our study material it is given that if amt exceeds Rs.5000, den it is fully taxable.....as per ur example Rs.8000 is taxable?????
but in our study material it is given that if amt exceeds Rs.5000, den it is fully taxable.....as per ur example Rs.8000 is taxable?????
30 March 2012
Hi,
Please refer CBDT circular no.15 of 2001.
Please refer CBDT circular no.15 of 2001.
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14 April 2012
Experts have given proper reply to your query and I agree with them
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