Background : Upon attaining 55 years of age and completing 20 years of central government service, I opted out on voluntary retirement (but not under VRS). Retiremeent benefits having been settled, I receive Rs. 100/= per month medical allowance.
Question : Am I eligible for exemption for tax purposes under Section 17 (2) of Income Tax Act, if i have bracketed with taxable income.
I am working in a carporate sector, and here is Medical reimburs facility is being provide by employer for maximum Rs. 30,000/- P.A but I don't claim any reimburshment during one or two year, can this balance amount be carry forwerd to next year?