Perquisites - Gift, Voucher or Token - Rule 3(7)(iv) - Income Tax - Ready Reckoner - Income Tax

Rule 3(7)(iv) : VALUATION IN RESPECT OF GIFT, VOUCHER OR TOKEN Taxable Value of any gift, or any voucher / token received by the employee or his household member on ceremonial occasions or otherwise from the employer shall be equal to the amount of such Gift or any voucher / token Particulars Taxable Value If value of such gift / voucher / token 5,000 in aggregate during the P/Y Nil If value of such gift / voucher / token 5,000 in aggregate during the P/Y Beyond 5,000 Note: Gifts made in cash or convertible money (like gift cheques) are not exempt.