Gift from employer taxability
Atharv Sankliya (1354 Points)
28 December 20222- what amount is taxable in case of gift received excess of 50000 rs or whole amount ?
Atharv Sankliya (1354 Points)
28 December 2022
Aisha
(Finance Professional)
(7874 Points)
Replied 29 December 2022
Income from Other Sources
If an individual receives a gift that is worth more than INR 50,000 in a year from a single source, the excess amount over INR 50,000 is taxable. For example, if an individual receives a gift worth INR 75,000 in a year from a single source, the taxable portion of the gift would be INR 25,000 (75,000 - 50,000)
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)