Is FBT applicable for any medical expenditure reimbursed to employees?
FBT
(Guest)
4 Replies
CA. Rajeev Aggarwal
(Chartered Accountant)
(3424 Points)
Replied 11 December 2008
Yes, but up to Rs.15,000/- as it is exempt in the hands of employee, as per Sec115WB(2)(E) under Employee Welfare
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 11 December 2008
Reimburesement of Madical expenses is fully Taxable either in hands of employer or employee. As to the extent of Rs 15,000 it is exempt in the hands of employee so it will liable to FBT in the hands of employer:
Limit: (Actual rembursement or 15,000 whichever is less)
satish kumar voleti
(A.C.A., (ICWAI))
(1686 Points)
Replied 11 December 2008
IS FBT APPLICABLE FOR A PRIVATE LIMITED COMPANY WHICH DO HAVE ANY EMPLOYEES, BUT THE ONLY EMPLOYEES ARE TWO DIRECTORS IT SELF.
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