Shefali Bajpai (Article Assitant & CA Final Student) (1148 Points)
07 June 2008X, a Govt. employee received Rs. 3.5 lakh during FY 2007-08 against the Medical Expenses borne by him for some critical disorder during the FY 2001-03.
What will be the Tax Treatment of the Reimbursement received during the Previous Year and how much exemption can he claim?
Surinder
(Finance Executive)
(88 Points)
Replied 09 June 2008
Dear,
Read section-17 of Income Tax Act, 1961.
regards,
Vinod Kashyap
(XBRL Training)
(451 Points)
Replied 09 June 2008
Sirs,
Background : Upon attaining 55 years of age and completing 20 years of central government service, I opted out on voluntary retirement (but not under VRS). Retiremeent benefits having been settled, I receive Rs. 100/= per month medical allowance.
Question : Am I eligible for exemption for tax purposes under Section 17 (2) of Income Tax Act, if i have bracketed with taxable income.
Regards,
Rushabh Vyas
(Articled Assistant)
(33 Points)
Replied 27 May 2009
hamsa
(Accounts dept)
(21 Points)
Replied 20 January 2010
Medical expenses can re-imburse? U/s 80DDB - mentioned specified dieses ?
Ajay Samariya
(Article Assisstant)
(21 Points)
Replied 15 February 2012
Is it Salary to the Director for the Company, If co. reimburse more than 40000 to Director of Co.as medical Exp.?
Indrajeet
(Assistant to Accountant)
(21 Points)
Replied 18 June 2012
Sir,
I am working in a carporate sector, and here is Medical reimburs facility is being provide by employer for maximum Rs. 30,000/- P.A but I don't claim any reimburshment during one or two year, can this balance amount be carry forwerd to next year?
Indrajeet
CAclubindia
