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Direct Taxation

Gift of ₹6000 in kind received by employee from its employer. What will be tax liability u/s 17(2)(viii). Wheather whole 6000 or 1000 only is taxable.

Hiren Ghadiya

CA Final

★ 1K+

08-Mar-23 17:33

595

Answers (8)

Best Answer

6000

Sudha Reddy

CA Final

★ 20K+

09-Mar-23 15:41

Taxable 1000 because gift in kind exempt upto 5000

ASAD ULLA

CA Inter

★ 9K+

08-Mar-23 18:04

It is question of law.

sushma verma

CA Inter

★ 170

08-Mar-23 18:25

It can be either whole 6000 getting taxable or only 1000 getting taxable

Anirudh gupta

CA Inter

★ 27K+

08-Mar-23 18:51

And you need to make anote also regarding this

Anirudh gupta

CA Inter

★ 27K+

08-Mar-23 19:24

Either answer is right

Shankari C

CA Inter

★ 12K+

08-Mar-23 20:35

Gift above ₹5000 is wholly taxable & not the excess amount above ₹5000 that's why Taxable value=₹6000

dheeraj hembram

CA Inter

★ 240

19-Mar-23 09:02

Upto 5000 exempt but if above 5000 then whole amount taxable

Sudha Reddy

CA Final

★ 20K+

20-Mar-23 08:47

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