Medical allowance
This query is : Resolved
12 February 2010
Hello All,
Medical allowance is exempted upto an extent of 15000/- but it is provided that only the rembursement is exempted.
so if an employee get Rs. 1500 p.m. towards medical allowance, the total goes to Rs. 18000/- and is he/she does not spent any amount on medical expences in the relevant year' then:
(A) is the total amount Rs. 18000/- taxable under the head salary, or
(B) is only Rs. 3000/- is taxable
Medical allowance is exempted upto an extent of 15000/- but it is provided that only the rembursement is exempted.
so if an employee get Rs. 1500 p.m. towards medical allowance, the total goes to Rs. 18000/- and is he/she does not spent any amount on medical expences in the relevant year' then:
(A) is the total amount Rs. 18000/- taxable under the head salary, or
(B) is only Rs. 3000/- is taxable
12 February 2010
Hello,
I want to clarify here that Medical Allowance is fully taxable whether any amount spent on medical treatment or not, whereas another side Medical reimbursement is exempt only upto Rs.15,000(However, if money reimburesed for govt. hospital or approved hospital by CIT or in employers own maintained hospital, then whole reimbursement amount will be exempt)
About your question, because you received MEDICAL ALLOWANCE which is fully taxable and not releted that you spent any amount or not, therefore whole amount, i.e., Rs. 18,000 will be TAXABLE in your hands.
Regards!!!
I want to clarify here that Medical Allowance is fully taxable whether any amount spent on medical treatment or not, whereas another side Medical reimbursement is exempt only upto Rs.15,000(However, if money reimburesed for govt. hospital or approved hospital by CIT or in employers own maintained hospital, then whole reimbursement amount will be exempt)
About your question, because you received MEDICAL ALLOWANCE which is fully taxable and not releted that you spent any amount or not, therefore whole amount, i.e., Rs. 18,000 will be TAXABLE in your hands.
Regards!!!
12 February 2010
medical allowance is fully taxable.
in your case if you can provide medical bill to company on monthly basis for 1500/- or more then you can show it as medical reimbursement. But in your salary slip it should not be shown as medical allowance.
if you provide bill then you can claim medical reimbursement till 15000/- rese 3000 will be taxable.
in your case if you can provide medical bill to company on monthly basis for 1500/- or more then you can show it as medical reimbursement. But in your salary slip it should not be shown as medical allowance.
if you provide bill then you can claim medical reimbursement till 15000/- rese 3000 will be taxable.
12 February 2010
Medical allowance fully taxable there is no exemption
Medical reimbursement is exempted up to Rs.15000p.a based on the submission of bills
Medical reimbursement is exempted up to Rs.15000p.a based on the submission of bills
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
