Diwali bonuses and gifts from employers are subject to different income tax rules. While qualifying gifts worth less than ₹15,000 annually can be tax-free, cash bonuses are taxable as salary. Here's what salaried employees should know. While qualifying gifts worth less than ₹15,000 in aggregate during a tax year can be tax-free, cash bonuses are treated as salary income and are taxable under the applicable income tax rules.