4 replies on this article “Income Tax”

1. Ashal Jauhari says:

   July 26, 2013 at 3:11 pm

   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

   Thanks

   Ashal

   Reply
2. Ashal Jauhari says:

   July 18, 2013 at 4:26 am

   Dear Deepika, yes the cost of such gift ‘ll be an expense for company.

   Thanks

   Ashal

   Reply
   1. Deepika says:

      July 18, 2013 at 12:54 pm

      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.

      Reply
3. Free Financial Calculators says:

   July 17, 2013 at 6:38 pm

   You mean to ask if such gift can be treated as income and taxable?

   Please read:
   http://www.caclubindia.com/experts/gift-by-employer–260740.asp

   Reply

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