is Medical reimbursment to employees taxable under FBT
This query is : Resolved
28 March 2008
is medical reimbursment exemption upto Rs 15000 taxable under FBT....
28 March 2008
YES REIMBURSEMENT UPTO 15000/-SHALL BE TAXABLE UNDER FBT
28 March 2008
UNDER SEC 115 WB(1)DEEMED FRINGE BENEFITS INCLUDE EMPLOYEES WELFARE EXP.TAXED @20% UNDER FBT BUT DOES NOT INCLUDE ANY EXP. INCURRED OR PAID TO FULFIL ANY STATUTORY OBLIGATION OR MITIGATE OCCUPATIONAL HAZARD OR PROVIDE FIRST AID FACILITIES IN HOSPITAL OR DISPENSARY RUN BY THE EMPLOYER.
SO THE MEDICAL REIMBURSEMENTS DO NOT COME UNDER ABOVE CATEGORY AND TAXED AS FBT @20%IN THE HANDS OF THE EMPLOYER.
R.V.RAO
SO THE MEDICAL REIMBURSEMENTS DO NOT COME UNDER ABOVE CATEGORY AND TAXED AS FBT @20%IN THE HANDS OF THE EMPLOYER.
R.V.RAO
28 March 2008
Yes reimbursement of medical expenses upto Rs 15000/- is liable to Fringe Benefit Tax.
Regards
Prasad.R
Regards
Prasad.R
31 March 2008
yes
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