Taxation for Gifts and Vouchers

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1

Hi,

What is the detailed information on perquisite rule on gifts, vouchers etc.?

Please suggest

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Hi @RamyaV

If the value of gift received is Rs 49,000 then you wouldn’t have to pay any tax on the gift value, but if the amount exceeds 50,000 then the entire amount is taxable under the income from other sources.

Usually if a company provides employees some gifts which are more than 50,000 then it should be considered under the ‘taxable income’ income from other sources for the employee and TDS to be computed.

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