10 November 2014
In our company, we have one employee who is in contract of Rs 16,500/- pm and deduct PF @ 12%. Our company is reimbursed his medical bills also. our company limit is Rs 40,000/- per year. When we reimburse his medical bill above Rs 15,000/- is comes under income tax. now whether we have to deduct his tax above Rs 15,000/- or just add in his taxable income. As his income tax is NIL.
CAclubindia
