Allowances

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kalyan (Querist)
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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

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 January 2010 Fixed medical allowance -fully taxable, there is no exemption

Medical reimbursement -Rs.15000 per annum exempted

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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22 January 2010 Agree

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