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| Q.57 | On the occasion of the silver jubilee of ABC Ltd., ‘X’, an employee, is given a gift of a watch whose value is Rs. 6,500. Is this gift taxable? If Yes, what shall be the taxable value? | |
| Ans | A. No. Hence, taxable value is nil. | |
| B. Yes. Taxable value is Rs. 1,500. | ||
| C. Yes. Taxable value is Rs. 6,500. | ||
| D. Yes. Taxable value is Rs. 5,000. |
Correct Ans Provided: B
