Computation Of Salary Income

Hi Sasi Medical Allowance is fully taxable & medical reimbursement is only exempt upto 15000. Medical Allowance is allowance & s oit  is fully taxable. Medical Reimbusment is a Perquisites

so in this case only 5000 is allowed as exemption.

Thanks & Regards

R Shriram

No Sir 5000 is exempted from tax under sec 17(2),

Provision of medical facilities (proviso to Sec. 17(2)): Value of medical treatment in any hospital maintained by the Government or any local authority or by the employer or approved by the employer or approved by the Chief Commissioner of. Income Tax. Besides, any sum paid by the employer towards medical reimbursement other than as discussed above is exempt upto Rs. 15,000/-

& 10000 is fully taxable as it is the allowance.

Regards

Shriram R

Sec 17

(2) Travel and stay abroad of the employee or any member of the family of such employee for medical treatment;

its reimbursement of actual expenses done by the employee from his tax paid income or savings, and the reimbursemtn fills the expenses done, so once u do it from tax paid income, how it can be taxable again?

Ya, 5000 is exempt. the concerned person's claim is that the company's pay slab says it's a medical reimbursement. The 5000 is given only after bills for 15000 are submitted......this is the point that confuses......it means 15000/- worth bills are given and amount is recieved. Only thing a part of it is recieved in advance.......the other part after submitting thebills....

Sorry Sir PLz visit this Link below

https://www.incometaxindia.gov.in/publications/2_TDS_On_Salaries/Chapter03.asp

and find the word medical reimbursement u will get the provision whish i have qouted.

Thanks & Regards

R Shriram

Yes Sir but the provision say that amount received or 15000 which ever is less. so in that case 5000 is only exempted.

Thank u

R Shriram

Sriram u mean.....even if it is called as reimbursement since 10000 assumes the nature of a allowance, it is taxable....?

yes if it is assumed as allowance then it is fully taxable

Regards

R Shriram

That is what i was told. 10,000 given like an allownce........5000 given after submitting bills for 15,000......

Then 10000 is fully taxable & 5000 is exempted from tax under sec 17(2)

Regards

R Shriram

My Dear Friends,

In Sec 80E a word Legal Guardian is given, BEing legal Guardian if asseessee has paid Intt under sec 80E It shall be allowed as deduction. But What is the definition of Legal GUardian. And in one case if asseessee has paid interest u/s 80E for his brother, He is the only care taker of his brother, shall he be deemed as legal guardian.THeir Parents are no more alive.

What would be the treatment.

Regards 

Jitendra

How do I apply for tax rebate on Medical bills which is around 10000? Due to some reasons I was unable to submit these bills in my company. Now I want to apply for the tax rebate on this. How do I proceed. Under which section should I enter 10000/- in the Saral (ITR1_R2) form. Please help?