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TMI BlogGifts to employeesX X X X Extracts X X X X X X X X Extracts X X X X ..... Gifts to employees X X X X Extracts X X X X X X X X Extracts X X X X ..... n gifts given to employees of above ₹ 50000 or below 50000. Pls clarify. Reply By Shilpi Jain: The Reply: If given away as gifts not eligible as credit. However if it is given by way of an ob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ligation on the part of the employer, for the performance of the employee it will no more be a gift and would be eligible as a credit Reply By Ganeshan Kalyani: The Reply: Input tax credit is not el ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igible on any item given away as 'free'. However, as opined by Shilpi Mam if it is given as a token of appreciation for any achievement of the emplyee in job then it will no more be a gift and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hence credit would be eligible. Reply By KASTURI SETHI: The Reply: SH.SHYAM PATHAK JI, If it is given on the basis of performance, it is not a gift. Thus out of definition of 'gift'. Exami ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne your issue from this point of view. Reply By Shilpi Jain: The Reply: Have a look at this article which discusses gift and obligation in the context of Manufacturer distributor https://www.taxma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nagementindia.com/visitor/detail_article.asp?ArticleID=8992 X X X X Extracts X X X X X X X X Extracts X X X X
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