Allowances
This query is : Resolved
22 January 2010
Hi..
I ve a doubt relating to allowances under the head salaries....
Whether fixed medical allowance can be given...
If i give a fixed medical allowance of Rs 2000 pm and at d end of d yearr employee gave bills for Rs. 16000 then wat is the taxable amt under d head salaries....
Can it be taken as medical reimbursement and can i say 9000 is taxable(24000-15000).
Is it an allowed practice to claim exemption...
can u suggest any other way to increase the take home for the employee with d minimum tax
I ve a doubt relating to allowances under the head salaries....
Whether fixed medical allowance can be given...
If i give a fixed medical allowance of Rs 2000 pm and at d end of d yearr employee gave bills for Rs. 16000 then wat is the taxable amt under d head salaries....
Can it be taken as medical reimbursement and can i say 9000 is taxable(24000-15000).
Is it an allowed practice to claim exemption...
can u suggest any other way to increase the take home for the employee with d minimum tax
22 January 2010
Fixed medical allowance -fully taxable, there is no exemption
Medical reimbursement -Rs.15000 per annum exempted
Medical reimbursement -Rs.15000 per annum exempted
22 January 2010
Agree
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- DUE DATE FOR ITR FILING
- GST ISD Query on various AMCs
- Query regarding reporting of exempt foreign remuneration in ITR
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- ITC BENEFIT ON BROKRAGE PAID
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
