Tax on Medical reimbursement
baljeet singh (36 Points)
29 January 2024baljeet singh (36 Points)
29 January 2024
Corporategenie
(Financial Consultant)
(37 Points)
Replied 31 January 2024
As of my last knowledge update in January 2023, medical reimbursements provided by employers in India are exempt from income tax up to a certain limit. The exemption is limited to the actual amount incurred on medical expenses or the amount received, whichever is less. The maximum limit for tax-free medical reimbursements can vary and is subject to change based on government regulations.
It's essential to note that tax laws and regulations may be updated, and it's advisable to check the latest guidelines or consult with a tax professional for the most current information.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)