Infosys recently gifted shares to its employees via Infosys welfare trust. This has not been shown in Form 16. Should this be considered perquisites or can be considered in gift tax ambit where upto50000 is exempt.
21 May 2011
REFER TO THE CASE CIT & Anr. v. Infosys Technologies Ltd. (2007) 15 (I) ITCL 181 (Karn-HC) : (2007) 293 ITR 146 (Karn) ' THIS IS THE CASE DEALING WITH THIS ISSUE
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