18 May 2011
As One of my freind getting salary from company shall she get medical allowance to rs 15000/- and Transport allowance Rs 9600 also she is paying seperate medical to united india insurance to rs 20000/-
18 May 2011
Medical reimbursement upto 15000 Rs. pa. is exemted from the perquisite valuation and therefore not taxable. Similarly conveyance allowance of Rs.800/- pm. is exempted from salary income. both of these are exempted from salary income
In the case of medical insurance premium the same is eligible for a deduction under chapter VIA under sec. 80D from the taxable income.
CAclubindia
