Deduction of Income Tax on case reward given to employees children, Income Tax

[Pradeep Jain]

Sir,  Our  Company give cash reward/prize to the children of employees every year  who has got more percent from the prescribed limit. Will this amount will be part of Employee CTC and income tax is payable thereon. Regards  Pradeep Jain

Posts / Replies

[CA GOPALJI AGRAWAL]

Gift below 5000/- per annum is exempt.