Gifts From An Employer To Employee

 Gifts From An Employer To Employee

1. Gifts in Cash: - Fully Taxable
2. Gifts in Kind: - Gifts from an employer to employee is taxable as Perquisites if their value is more than Rs 5,000.The Rs 5,000 limit is for an entire financial year. It means the total value of all gifts and bonuses should be below the threshold for them to be tax-free.