employee salary
This query is : Resolved
22 July 2009
Dear Sir/Madam,
Our company is pvt.ltd. company and we are not given to rent of house and medical allowance our employee.
can we able to deduct HRA and mediclaim?
can we deduct their tax only yearly in feb or can deduct monthly ?
Please help what is the better above mentioned tax monthly / yearly.
Thanks,
Poonam
Our company is pvt.ltd. company and we are not given to rent of house and medical allowance our employee.
can we able to deduct HRA and mediclaim?
can we deduct their tax only yearly in feb or can deduct monthly ?
Please help what is the better above mentioned tax monthly / yearly.
Thanks,
Poonam
22 July 2009
Dear Poonam,
1. you may reimburse the Medical Bill given by the employees, but the max. amount of Rs.15,000.00 is only allowable as exemption in the hands of Employee. But the employer can claim all the amount Paid to the employees.
2. In case of H.R.A. - u have to fix some amount as House Rent Allowance - 40% of the basic pay or if any as per your company's policy. Employee can claim HRA as exemption as per Sec.10 (13), but the employer can claim the full amount as expenses.
This is my understanding.
A. Sankaranarayana
Bangalore
9448144025
1. you may reimburse the Medical Bill given by the employees, but the max. amount of Rs.15,000.00 is only allowable as exemption in the hands of Employee. But the employer can claim all the amount Paid to the employees.
2. In case of H.R.A. - u have to fix some amount as House Rent Allowance - 40% of the basic pay or if any as per your company's policy. Employee can claim HRA as exemption as per Sec.10 (13), but the employer can claim the full amount as expenses.
This is my understanding.
A. Sankaranarayana
Bangalore
9448144025
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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- LIC Annuity received under Jeevan Akshay Scheme
- In Exports Sales HSN details where to fill
- Form 10BD Filling
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
