Dear Freinds,
Award received from employer in Cash or kind is taxable or not?
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Award from employer
Replies (11)
No doubt it is taxable as Salary.
anything above 5000 is taxable as is the case with gift cheque, travelver's cheque and all....
| Originally posted by : Sunshine... | ||
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anything above 5000 is taxable as is the case with gift cheque, travelver's cheque and all.... |
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AGREED
| Originally posted by : kaushal (taxbykk) | ||
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If in cash treat it as bonus and tax it., If in kind treat as gift and claim exemption of Rs. 5000 and then tax it. |
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Agree :)
Agree with kaushal sir
| Originally posted by : kaushal (taxbykk) | ||
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If in cash treat it as bonus and tax it., If in kind treat as gift and claim exemption of Rs. 5000 and then tax it. |
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AGREED.
| Originally posted by : kaushal (taxbykk) | ||
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|
If in cash treat it as bonus and tax it., If in kind treat as gift and claim exemption of Rs. 5000 and then tax it. |
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Award received from the employer is taxable if it is in cash and if it is in kind then exempt upto Rs.5000/-.
no doubt, it is taxable above Rs 5000
| Originally posted by : kaushal (taxbykk) | ||
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If in cash treat it as bonus and tax it., If in kind treat as gift and claim exemption of Rs. 5000 and then tax it. |
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what it mean "If in kind treat as gift and claim exemption of Rs. 5000 and then tax it"
Please explain in simple language
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