Medical Reimbursement
This query is : Resolved
19 December 2007
Medical Reimbursement is exempted up to 15000/- to the salaried employee.But if he worked for 9 months in a F/Y whether whole amt of 15000 will be exempted or 11250???
19 December 2007
Hi Anil,
The exemtion amount is Rs.15000 per year. In my opinion he may claim for the entire amount, as its not a monthly exemption but a yearly exemtion.
Rgds/
Vineet
The exemtion amount is Rs.15000 per year. In my opinion he may claim for the entire amount, as its not a monthly exemption but a yearly exemtion.
Rgds/
Vineet
19 December 2007
If he has not worked anywhere he can claim the entire amount. Otherwise proportionately it should be adopted.
19 December 2007
As far as filing of Return and Assssment is concerned, the employee can claim full amount of Rs 15000 irrespective of (a) whether he spent the same in one or more months only or all through the year uniformly, (b) whether he is in employment or not for all the twelve months and (c) whether he worked with one employer or more than one during the FY.
If the employee has worked under two employers during the FY, I opine that first employer need not hesitate to adopt entire amount of Rs 15000 for TDS purpose.This is because the employee may putforth that by God's grace, he may not have to spend any thing towards medical expenss in the later part of the FY.
If the employee has worked under two employers during the FY, I opine that first employer need not hesitate to adopt entire amount of Rs 15000 for TDS purpose.This is because the employee may putforth that by God's grace, he may not have to spend any thing towards medical expenss in the later part of the FY.
24 December 2007
Thanks a lot.
But if d employee worked only 4 months april to july. Whether any month's bill may be presented?i.e. after july also?
But if d employee worked only 4 months april to july. Whether any month's bill may be presented?i.e. after july also?
04 January 2008
The exemption is yearly amount of 15,000 and this exemption is not made not no of months worked.
No PROPORTIONATE AMOUNT IS REQUIRED TO BE COMPUTED
No PROPORTIONATE AMOUNT IS REQUIRED TO BE COMPUTED
09 January 2008
Mr.Amit
If the Employee have left the JOb at the end of July then how can he can present after july's bills?.
Plz Note that He is under salary only till july (i.e. no employment anywhere after july)
If the Employee have left the JOb at the end of July then how can he can present after july's bills?.
Plz Note that He is under salary only till july (i.e. no employment anywhere after july)
20 February 2008
The medical expenses received by the employee if exceeds Rs.15000/- will be taxed on the balance amount exceeding Rs.15000/- irrespective of his date of joining or leaving.
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