Medical reimbursement issue
This query is : Resolved
17 March 2015
An employee pays mediclaim policy premium of Rs.30,000 p.a. He claims deduction u/s.80D for Rs.15,000/- and the same is granted by the employer. Further he is also entitled to Rs.15,000 as medical reimbursement from the employer, Can he claim the balance amount of Rs.15,000/- paid as mediclaim premium to the company to claim this amount of Medical Reimbursement ?????
17 March 2015
No. That balance amount of 15,000 can NOT be and SHOULD not be claimed as reimbursement. It wont be a GOOD governance practice.
17 March 2015
Whether the provisions of I. Tax Act prohibits it? If so then under which section?
17 March 2015
sec 17 (2) (v) : any sum paid by the employer in respect of any expenditure actually incurred by the employee on his medical treatment or treatment of any member of his family.
The mediclaim insurance expenses are NOT considered to be expenditure on MEDICAL TREATMENT.
Your views please.
The mediclaim insurance expenses are NOT considered to be expenditure on MEDICAL TREATMENT.
Your views please.
17 March 2015
Proviso (iv) to Sec.17(2) : any sum paid by the employer in respect of any premium paid by the employee to effect or to keep in force an insurance on his health...............for the purposes of sec. 80D.
17 March 2015
Who has paid the insurance?
employer or employee?
Hope we are not confusing REIMBURSEMENT versus expenditure by Employer.
Your views please.
employer or employee?
Hope we are not confusing REIMBURSEMENT versus expenditure by Employer.
Your views please.
17 March 2015
Employee pays Rs.31,000/- as mediclaim policy premium by cheque.
Rs. 15,000/- is reimbursed by the employer to the employee.
Balance 16,000/- is claimed by the employee as dedn. u/s.80D (Max.15,000/- for A.Y.2015-16]
Rs. 15,000/- is reimbursed by the employer to the employee.
Balance 16,000/- is claimed by the employee as dedn. u/s.80D (Max.15,000/- for A.Y.2015-16]
19 March 2015
payment of mediclaim policy can NOT be regarded as expenditure on MEDICAL TREATMENT.
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
- Filing d ITR by registered legal heir
- Tax implications of gift to maternal uncle
- Closure of a PVT LTD company
- Real estate business by a partnership firm where both of the partners are SC/ST
- ROC filings for the first year of incorporation
- 26QB correction - no data available error for fully consumed/processed with default
- When I Login E-invoice portal with waybill user id and pw, it is showing 3011 error data
- TDS on Purchase of Immovable Property in case of Co Owner
- Short term capital gain Section 87A
- Time allowed for utilisation of ITC
- Unable to convert User role from Registered user to Business user on MCA V3 portal
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Need to send letter to GST dept. For claimed missed ITC
- PRINTING PRESS UNDER COMPOSITION SCHEME
- 140-A TAX WRONGLY PAID PAN NO
- CSR funding for private limited companies
- SAC codes for Chartered Accountant
- Professional tax deduction monthly
- Cross charges verses Isd methof
- Refund Application in RFD 01 for Export without payment of tax
CAclubindia
