Medical allowance

This query is : Resolved

Gireesh (Querist)
Follow

24 April 2012 I am getting 15K as medical allowance as a component of gross salary. If i submit medical bills for this amount to the employer , can i claim deduction for this 15K? I am not paying any medical insurance premium

thank you

Gireesh

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

24 April 2012 medical bills reimbursement is non taxable upto Rs. 15K which does not means that you can take it as medical premium deductin

that makes difference

if you are getting Rs. 20000/- for medical bill reimbursement then Upto Rs. 15000/- is exempted from tax not count as deduction and other Rs. 5000/- will be add to your salary as taxable component

so medical reimbursement & medical premium both are different from each other

sourabh

sourabh (Expert)
Follow

25 April 2012 dear sir,

medical allowance is not exempt in any case, only medical reimbursement upto rs. 15000 is exempt only.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

25 April 2012 right Sourabhji,

I got wrong word thanks for correcting me

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now