Gift Cards

What is a corporate gift card?

A corporate gift card is a prepaid card organizations use to gift their employees, clients, customers, or partners. These cards are loaded with money up to a certain specified amount and are among the best ways to appreciate people. These cards can be redeemed online or in-store.

How to access a corporate gift card?

• Register on EnKash and enter all the company details required
• After all the details are validated, the company becomes eligible for gift cards
• The company can load money into their account and request the cards as required
• These gift cards can be allocated to the recipient with a preloaded amount as per the occasion

What are the rules for corporate gifting?

Corporate gifts should be aligned with the company's ethics and policies. These gifts must be legal. There must be transparency in corporate gifting and sensitivity towards all cultures.

Is corporate gifting profitable?

Organizations have observed enhanced retention rates through the implementation of corporate gifting strategies. Hence, opting for gift cards, such as those offered by EnKash, proves to be a mutually beneficial strategy. By motivating stakeholders with secure, convenient, and easily manageable gift cards that offer access across various categories, organizations can expect improved outcomes and increased productivity.

What is the TDS rate for corporate gifting?

A corporate gift can attract a TDS of 10% if the gift value exceeds Rs 20,000 in a year. This is decided under Section 194R of the Income Tax Act, 1961.

How do I avoid gift tax as an employer?

You can avoid gift tax by keeping the value of gifts within the tax-free limit of 5000 INR within a calendar year.