Tax or No tax???
This query is : Resolved
Nikhil R Kumar
(Querist)
15 January 2009
If an employee receives Rs.50000 on his marriage from his employer, is there any provision to tax this amount. If so in which head, salary or income from other source???
16 January 2009
it is not taxable as gift received on the occassion of marriage is exempt.
Nikhil R Kumar
(Querist)
16 January 2009
But Sec(15)says any amount received by an employee from his employer is chargable to tax.
K V Subba Rao
(Expert)
16 January 2009
If the Employer recorded Gift in his books of account by charging off to Salaries Account, the amount is taxable in the hands of receipient as Salary
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