Diwali employer gifts under ₹15,000 may be tax-free
In short
Diwali gifts from employers worth less than ₹15,000 in total can be tax-free, according to a Mint Money summary. Cash bonuses are taxed as salary.
This matters for salaried employees because festive payouts can change income tax, rebate eligibility and take-home pay under the new tax rules.
What the reporting says
Employee Diwali gifts from employers worth less than ₹15,000 in aggregate can be tax-free, while cash bonuses are taxable as salary, according to a Mint Money summary. The guidance also says these festive payouts can affect income tax, rebate eligibility and take-home pay under the new tax rules. The brief is aimed at salaried employees deciding how employer vouchers and bonuses will be taxed.
Why it matters
Diwali gifts from employers worth less than ₹15,000 in aggregate can be tax-free, while cash bonuses are taxable as salary, according to a Mint Money summary. The brief says these festive payouts can affect income tax, rebate eligibility and take-home pay under the new tax rules. It is aimed at salaried employees receiving vouchers, gifts or bonuses from employers.