LONG TERM SERVICE AWARD TAXABILITY

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..... Kindly clarify about the following as I got two different rules as per I.T.Act 1961 . (i.e) one from I.T Circular and another one from I.T.Manual As per circular: For gift received in Cash / chequ .....

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..... e from Employer is taxable in the hands of employee. Say, ₹ 50,000/- received by employee from Employer in the form of Cheque as 10 YEARS SERVICE AWARD. As per I.T.Manual: For gift received i .....

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..... n cas/ cheque exceeds ₹ 5,000/- is taxable. So, in this case, taxable will be RS.45,000 (i.e. ₹ 50,000-RS.5,000) Kindly clarify and state me the correct rules to be followed. Than .....

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..... ks Regards, Mahindran. - LONG TERM SERVICE AWARD TAXABILITY - Query Started By: - Mahendra L Dated:- 9-3-2016 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an .....

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..... expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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