Tds on Reimbursement
This query is : Resolved
17 March 2011
I have deducted Medical premium for an employee from his salary and paid to insurance company
now he has incurred some amount for medical exp and got the reimbursement from insurance company
But it was routed through company
my Que is should i deduct TDS when i pay to him the reimbursement received from insurance company
is that amount is liable for income tax
should this be added as his taxable income
since Medical exp reimb from company is excempt upto 15000/-
should this be consider as medical reimbursement
now he has incurred some amount for medical exp and got the reimbursement from insurance company
But it was routed through company
my Que is should i deduct TDS when i pay to him the reimbursement received from insurance company
is that amount is liable for income tax
should this be added as his taxable income
since Medical exp reimb from company is excempt upto 15000/-
should this be consider as medical reimbursement
17 March 2011
NO THIS IS NOT A REVENUE RECEIPT
THIS IS A CAPITAL RECEIPT AND COMPANY IS NOT PAYING ANYTHING HIMSELF IT IS JUST A TRANSFER
NO NEED TO DEDUCT TDS
IF ANYHTING MORE TELL ME
NEERAJ BANSAL (CA)
THIS IS A CAPITAL RECEIPT AND COMPANY IS NOT PAYING ANYTHING HIMSELF IT IS JUST A TRANSFER
NO NEED TO DEDUCT TDS
IF ANYHTING MORE TELL ME
NEERAJ BANSAL (CA)
Message likes :
1 times
18 March 2011
Does a employee(individual) have to add this as income - as Medical expenses reimburse by company is given as excempt upto Rs. 15000/-
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
