FBT on Medical reimbursement
This query is : Resolved
14 March 2009
Dear All
Please confirm that when an employer reimburse the medical exp. 20000 to an employee, Is FBT paid by the employer on the same or upto 15000 only?
With regards
Sanjeev
Dear All
Please confirm that when an employer reimburse the medical exp. 20000 to an employee, Is FBT paid by the employer on the same or upto 15000 only?
With regards
Sanjeev
14 March 2009
on Medical Exps. reimbursed by Employer upto Rs.15000/- FBT is levy
Above 15000/- (in your case Rs.5000/-) taxable in the hands of employee
Above 15000/- (in your case Rs.5000/-) taxable in the hands of employee
14 March 2009
Please also confirm that the exemption of 15000 is in the hands of employees, then why company pay the FBT on it?
Please also confirm that the exemption of 15000 is in the hands of employees, then why company pay the FBT on it?
14 March 2009
CBDT opined that since medical expenditure upto Rs 15000 is not taxable in the hands of the employee as salary, it should be subjected to FBT.
Please check the following:
http://www.taxlawsonline.com/news/article/fringe.asp
Please check the following:
http://www.taxlawsonline.com/news/article/fringe.asp
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