CA Dinesh (CA) (91 Points)
08 July 2011Hi guys i wanted to know wether Gift vouchers given to employees by the employer are taxable in the hands of employee and whether 2) an employee can claim u/s 10 for the telephone expenses paid for personal use.
Please answer this questions urgently
thank you
sonam
(student)
(24 Points)
Replied 09 July 2011
The relevant question comes under the head salary . When an employer gives to his employee any gift, voucher, the following consequences take place -
If the aggregate value of such gift in kind (not in cash) in previous year exceed Rs 5000, then it is taxable in the hands of employee. If it is below Rs 5000 then not taxable. It should be noted that gift made in cash is taxable irrespective of any amount.
Aparna Raja K.C
(Student)
(520 Points)
Replied 09 July 2011
If gift received in Cash - Fully Taxable
If in kind - Taxable if the value is above Rs.5000/-
Personal Expenses are cannot be claimed under section 10
hi Dinesh
Gifts has been answered.
For exemption of perquisites do not look for section 10 but look Rule 3 of income tax rules.
If telephone facility is provided by the employer even for personal purpose then not taxable.
If telephone bill is re0imbursed for personal purpose then taxable.
Thanks
Kaushal
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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