Festival bonus taxable?


If company provided gift or vouchers as festive bonus to employees, How much will this be taxable?

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If gift vouchers are valued at more than Rs. 5,000, then they would have been treated as salary income and taxed according to the relevant slab rates. For less then Rs. 5,000 its not taxable.

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Anything more than Rs. 5,000/- will be considered as income and will be liable for tax.


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