Taxability of Gift Vouuchers

Voucher will be taxable at the rate of given to employees or any amount recover from employee towards voucher than it have to be minus from the voucher recd amount and rest will be taxable. Upto 5,000.00 is exempt from tax.

Agree with  Mr pankaj

thanks,

but tell me if the gift voucher value is Rs 40,000, then taxable value to be taken will be Rs 40000 or Rs 35,000 only??

You have to take it Rs.40000.00

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