medical allowance and reimbursment
This query is : Resolved
13 March 2009
pls know to me which amount is taxable for income tax purpose
13 March 2009
As per the provisions of the IT Act, 1961, Medical allowance given to an employee is taxable in his hands. However, reimbursement of medical expenses upto Rs. 15,000/- is exempt from levy of tax since the same is perks u/s. 17 of the IT Act, 1961. Reimbursements towards medical expenses over and above is taxable in the hands of employee
As per the provisions of the IT Act, 1961, Medical allowance given to an employee is taxable in his hands. However, reimbursement of medical expenses upto Rs. 15,000/- is exempt from levy of tax since the same is perks u/s. 17 of the IT Act, 1961. Reimbursements towards medical expenses over and above is taxable in the hands of employee
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