FBT on Medical Reimbursement
This query is : Resolved
SANDEEP AGGARWAL
(Querist)
29 January 2008
Dear Sir,
Medical payment to approved hospital(for specified dieses) is exempt from tax. And for other medical reimbursement is taxable if it exceeds Rs. 15000/- in the hand of employees. As per CBDT circular it seems that when medical reimbursement to emploees exceeds Rs 15000/- than no FBT to Employer and if it is within 15000/- then only FBT is payable that means if Reimbursement is Rs 15100/- then no FBT on employer and for employee only Rs 100/- is taxable. Wheather my interpretation is Right or not. Please clarify.
Regards
CA. Sandeep Aggarwal
Medical payment to approved hospital(for specified dieses) is exempt from tax. And for other medical reimbursement is taxable if it exceeds Rs. 15000/- in the hand of employees. As per CBDT circular it seems that when medical reimbursement to emploees exceeds Rs 15000/- than no FBT to Employer and if it is within 15000/- then only FBT is payable that means if Reimbursement is Rs 15100/- then no FBT on employer and for employee only Rs 100/- is taxable. Wheather my interpretation is Right or not. Please clarify.
Regards
CA. Sandeep Aggarwal
S.Srinivasaraghavan
(Expert)
30 January 2008
FBT on Medical reimbursement upto Rs 15000 is on employer. Any excess over Rs 15000, the employee is taxed and no FBT for employers on such excess.
CA Hemant T Dewani
(Expert)
30 January 2008
up to rs.15000/-medical expences are taxable in the hands of employer are liable to fbt and in excess of s 15000/-is taxable in the hands of employee
Devendra Mishra
(Expert)
30 January 2008
Please Refer the share file link on FBT in this site.
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