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Rs 15000/- exempt Medical reimbursement. (Income Tax)

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Author : Anonymous

( Author )
17 February 2010

Suppose an employee has not submitted any medical bills or other documents for medical reimbursement then it becomes taxable, but my question is that Rs 15000/-is taxable at what rate?.
And secondly Rs 15000/- can be adjusted with Chapter VI deductions?.


( Expert )
17 February 2010

The company is not required to collect your medical bills. It is the obligation of the employee to have such bills with him.

The amount if considered as taxable would be charged to tax at the normal rate applicable to the individual. (depending on his taxable income).

Author : Anonymous

( Author )
17 February 2010

The Taxable Medical reimbursement can be adjusted with Chapter VI deductions.
If suppose deductions u/s 80C is 30000/-
then there will be no tax liability.

CMA Ramesh Krishnan

( Expert )
17 February 2010

Rs.15000/ need to add taxable income of the employee based on the tax slab applicable, tax need to deduct

Chapter IV is Sec80D applicable for Mediclaim insurance premium



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