Salary & Capital Gains
This query is : Resolved
14 April 2010
A Company gives gold coins of different grams to its employees of sales & marketing dept. as an incentive for the year. What will be its taxing effect? Will it be considered as salary or under which head will it fall as what and what value will be adopted? Then suppose after sometime if the employees sell these coins in future what will its tax impact on them? Will they be considered as sale of capital asset? Why? What will be considered as cost of acquisition?
Please guide me I am confused
Regards,
Kapil
Please guide me I am confused
Regards,
Kapil
14 April 2010
IT'S INCLUDES IN SALARY AS GIFT,
GIFT EXEMPT UP TO 5000/- PA UNDER PERQ.
FOR CALCULATION OF CAPITAL GAIN COST OF PURCHASE = TAXABLE VALUE IN THE SALARY HEAD AND DATE = TIME OF RECEIPT OF GIFT
GIFT EXEMPT UP TO 5000/- PA UNDER PERQ.
FOR CALCULATION OF CAPITAL GAIN COST OF PURCHASE = TAXABLE VALUE IN THE SALARY HEAD AND DATE = TIME OF RECEIPT OF GIFT
14 April 2010
AGREE WITH VIEWS OF ASHOK JI
14 April 2010
thanks Ashok Sir,
but I have written that gold coins are given as an incentive for achieving sales targets can they be considered as a gift given to employees???
but I have written that gold coins are given as an incentive for achieving sales targets can they be considered as a gift given to employees???
15 April 2010
IN MY OPINION BECAUSE OF OTHER THEN CASH WE TREAT AS GIFT,
OTHERWISE ADD FULL VALUE IN SALARY INCOME.
OTHER EXPERTS OPINION IS SOLICITED
OTHERWISE ADD FULL VALUE IN SALARY INCOME.
OTHER EXPERTS OPINION IS SOLICITED
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