Hi
If the company decides to give gold coins to its select employees as part of Bonus or appreciation drive then who would be taxed the employee or the company.
For eg Mr X for is good performance is awarded 4 gold coins of 99.9% purity of HDFC bank.
Now Mr X decides not to sell the gold coins or convert them into jewellery.But from a tax point of view is the receipt of Gold coins to be taxed in his Gross Income. If so then at what rate.
Also an appreciation or loyalty bonus would be taxed at what rate to the employee and how can he minimize the tax impact.
Please respond
Much obliged
Roshini Arya
If the company decides to give gold coins to its select employees as part of Bonus or appreciation drive then who would be taxed the employee or the company.
For eg Mr X for is good performance is awarded 4 gold coins of 99.9% purity of HDFC bank.
Now Mr X decides not to sell the gold coins or convert them into jewellery.But from a tax point of view is the receipt of Gold coins to be taxed in his Gross Income. If so then at what rate.
Also an appreciation or loyalty bonus would be taxed at what rate to the employee and how can he minimize the tax impact.
Please respond
Much obliged
Roshini Arya