Our company is pay fixed amount of medical for evert month
but for the purpose of tax planning how can we allow is a exemption amount of 15000/-
2 Replies
CA Ghanshyam Joshi
(CA, Dip IFR (ACCA UK))
(3229 Points)
Replied 04 March 2011
Take the proof from the employees for medical expenditure like hospital bills, medical bills, doctor consultancy fees etc and allow actual amount paid or bills produced which ever is lower as exempt.
Rachit
(Ca-Final Article.)
(565 Points)
Replied 04 March 2011
The amount your company is paying will be exempted in your hand but taxable in hands of employee........
you can make it non-taxable for employee by paying them at the time of need like if they made any medical Exp. than if you will make the payment then the same shall be exempted in both hanbd........
Sub to that the bill shall be in the name of Emp,wife, son , daugthers, and parents sub to max. of rs. 40000 for himself and 60000 for his parents.........
if you will pay him for the same than same will not be included in his income and ultimately amoun to tax saving for the employee.........
Recent Topics
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
- Need your valueble insight.
Related Threads
CAclubindia
