05 January 2010
We are receiving Rs.1250/- per month towards reimbursement of medical expenses for me ,my supouse and children.Is it taxable under notification No. 94 dt. 18.12.2009
05 January 2010
Section 17(2) says that Rs. 15,000 are exempt, and there is no change in Medical Facility/Reimbursement according to new notification .
Therefore, you can take exemption upto amount of Rs. 15,000 per annum.
07 January 2010
There is no exemption on monthly basis. Exemption is for 15000.00 p.a.
If you get a fixed exemption of 1250 p.m. and submitting the bills of same amount p.m. that simply means that you are getting fixed medical allowance not the reimbursement as a every employee cannnot spend the same amount on medical each month.
CAclubindia
