Received a Diwali bonus or voucher from your employer? Know the tax exemption limit and rules for salaried employees
Summary
Diwali gifts from employers worth less than ₹15,000 in aggregate can be tax-free, but cash bonuses are taxable as salary. Here's how festive payouts affect your income tax, rebate eligibility and take-home pay under the new tax rules.
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Received Diwali bonus or cash from your employer? Know ₹15,000 exemption limit and when income tax applies | Explained
With Diwali celebrations over, salaried employees should understand how employers' festive gifts, vouchers and cash bonuses are taxed. The rules prescribe different tax treatments for these benefits, which can affect employees' taxable income and overall tax liability.
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Received a Diwali bonus or voucher from your employer? Know the tax exemption limit and rules for salaried employees
Diwali gifts from employers worth less than ₹15,000 in aggregate can be tax-free, but cash bonuses are taxable as salary. Here's how festive payouts affect your income tax, rebate eligibility and take-home pay under the new tax rules.
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