Under salaries, if an employee receives a gift worth Rs.10000 from his employer, how much will be taxed?
1 Replies
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)
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