Under salaries, if an employee receives a gift worth Rs.10000 from his employer, how much will be taxed?
Amir
(Learner)
(4016 Points)
Replied 06 April 2010
Dear Shashank,
If this Gift is in the form of money then entire 10k is taxable.
If this is an article/item worth Rs. 10,000 - then there is no certaininty as such since there is no clarification from the department side - still better option is to tax entire Rs. 10,000 (& not only in excess of Rs. 5,000)
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
