HAI
MY FRIEND IS GETTING MEDICAL ALLOWANCE OF RS.28000 FROM HIS EMPLOYER.WHETHER IT IS FULLY TAXABLE OR EXEMPTION IS THERE?
siva andhavarapu (ca final) (388 Points)
17 June 2017HAI
MY FRIEND IS GETTING MEDICAL ALLOWANCE OF RS.28000 FROM HIS EMPLOYER.WHETHER IT IS FULLY TAXABLE OR EXEMPTION IS THERE?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 17 June 2017
Reimbursement of medical expenses actually incurred by an employee for his medical treatment or the treatment of any member of his family upto Rs. 15,000 per annum is not treated as a taxable perquisite as per Clause (v) of the Proviso to Section 17 (2) of the Income Tax Act.
BUT any amount of Medical Allowance is fully taxable.
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 17 June 2017
siva andhavarapu
(ca final)
(388 Points)
Replied 17 June 2017
TQ SIR AND MADAM
CAN YOU PLEASE TELL ME WHEATHER HE CAN TAKE RS.15000(NO REIMBURSMENT) BENEFIT EVEN HE IS GETTING MEDICAL ALLOWANCE.(ACTUALLY HE IS INCURRING 20000 AS MEDICAL EXPENSES FOR HIS FATHER)
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 17 June 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 17 June 2017
Not as medical allowance..........
rama krishnan
(12234 Points)
Replied 17 June 2017
rama krishnan
(12234 Points)
Replied 18 June 2017
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
