FBT ON MEDICAL ALLOWANCE
This query is : Resolved
21 May 2008
Dear Sir,
1) Our Company is giving Medical Allowance of Rs 15000/- as part of Salary Can we Claim deduction Claim Exemption if yes than how much is and for that any proof is to be provided.
2)Is FBT is Payable by the Company on the above Medical Allowance.
Regards
Ravi Konda
1) Our Company is giving Medical Allowance of Rs 15000/- as part of Salary Can we Claim deduction Claim Exemption if yes than how much is and for that any proof is to be provided.
2)Is FBT is Payable by the Company on the above Medical Allowance.
Regards
Ravi Konda
21 May 2008
Hi Ravi,
(1) You may claim exemption upto Rs.15000/- provided you submit original medical bills.
(2) FBT is payable by the compnay upto Rs.15000/-. As medical re-imbursements above Rs.15000/- is taxable in the hands of the employee, FBT is not charged on the amount exeeding Rs.15000/-
Rgds/
Vineet
(1) You may claim exemption upto Rs.15000/- provided you submit original medical bills.
(2) FBT is payable by the compnay upto Rs.15000/-. As medical re-imbursements above Rs.15000/- is taxable in the hands of the employee, FBT is not charged on the amount exeeding Rs.15000/-
Rgds/
Vineet
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