July 17, 2013 6:15 pm
Can company give gift to employees?
If yes can such gift be treated as expense?
as per IT act
Dear Deepika, in a FY, the max. value of tax free gift is 2500 Rs. Anything more than this is taxable. The cost of Car ‘ll be certainly more than 2500 Rs. hence it ‘ll be taxable
Dear Deepika, yes the cost of such gift ‘ll be an expense for company.
Gift given by company for Rs. 50,000/- will be taxable in the hands of employee?
Gift of car will be taxable?
I want to know tax implication both in the hands of employer & employee.
You mean to ask if such gift can be treated as income and taxable?
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