Taxability of gift card

This query is : Resolved

rvpai (Querist)
Follow

20 June 2014 Sir

The Gift cards issued by an employer to employees as an incentive for achieving the business targets - is it taxable in the hands of employees ?

Will there be any difference in treatment if the Gift card does not have a facility of cash withdrawal

Request an expert opinion

Regards

RV Pai

Rupesh Jain

Rupesh Jain (Expert)
Follow

20 June 2014 CARD ON ACHivement of target is taxable as salary part.

but if it is gift on ceremony when up to Rs. 5000/- will be exempt per year per employee. if gift in cash not exempt.