Hi All,
I would like to know, if a company has given gift vouchers to employees amounting to 40K will it be taxable in the hands of employees as perquisites. What are the related provision? Please provide me the relevant provisions, notification, circulars,etc. . Also, if company has paid for vouchers less than its value to the dealer(bulk discount), what will the value to be taken as taxable in the hands of employees i.e. voucher value or discounted value that co. has paid to dealer?
Please advice....
CAclubindia
