Tax on medical reimbursement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2015
IN FY 14-15 i received Medical Reimbursement of 2.00 lac from my company against my Father Medical treatment after submission of medical bills.
Now company treated it as Income & Charging Tax on Medical Reimbursement Amount.
is it Taxable & under which section it is applicable for Tax Free.?
Now company treated it as Income & Charging Tax on Medical Reimbursement Amount.
is it Taxable & under which section it is applicable for Tax Free.?
11 June 2015
In the absence of any REIMBURSEMENT policy for claiming MEDICAL expenses by your company, the same would be taxable in the hands of the employee receiving the said reimbursement.
11 June 2015
No tax on medical reimbursement up to 15000/-. Reimbursements exceeding the limit are available subject to conditions.
See the link.
http://www.charteredclub.com/medical-reimbursement-income-tax/
See the link.
http://www.charteredclub.com/medical-reimbursement-income-tax/
11 June 2015
upot rs./ 15000/- you can take medical reimbursement. above rs. 15000/- amount add in your salary and pay tax accordingly.
12 June 2015
Usually upto Rs.15000 but in some specific cases it may exceed
Ref http://www.charteredclub.com/medical-reimbursement-income-tax/
Ref http://www.charteredclub.com/medical-reimbursement-income-tax/
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?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
