10 March 2011
Is the 15,000p.a. limit available in full even if employed for part of the financial year? if so please point me to any circular substantiating this view
10 March 2011
Emphasis for the word "year" used in proviso (v) to section 17(2)of the Income tax Act,1961 should be given to the quantum of 15,000/- and not to the partial period of employment. In view of that, the answer is Rs.15,000/- will be allowed in full.
10 March 2011
Medical reimbursement exemption limit is Rs. 15000 p.a available in full even if employed for part of the financial year. Refer section 17(2).
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