Medical Allowance - medical billls submitted

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harshit (Querist)
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13 March 2008 Our company given medical allwance to employees

employees tax calculation avail that benefit employee are submit medical bills compulsory or not?

In which section in IT said medical bills compulsory ? please sir

Dayal

Dayal (Expert)
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13 March 2008 Yes in order to claim the benefit, it has to be shown as an expenditure.

Onlly when expenses have been incurred it will be treated as an allowable expense, else not.

Kindly sumbit if you intend to seek tax exemptions else entire amount will be clubbed to the income on hand and will be subject to income tax

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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13 March 2008 If an employee receives some money for his medical treatment or the treatment of any member of his family or any of his dependant relatives then a sum up to Rs. 15,000 p.a. is not treated as a taxable perquisite as per Clause (b) of the provision to Section 17 (2) of the I.T. Act. This exemption is enjoyed by the employee only if the expenditure is actually incurred on his medical treatment or for treatment of any member of the family or a dependant relative. It may be noted here that there is no condition that the medical treatment should be at any of the approved hospitals. It could be at any place and from any type of doctor belonging to Allopathic, Ayurvedic, Unani or Naturopathy system of medicine.

Sanjeev Kumar Varshney

Sanjeev Kumar Varshney (Expert)
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13 March 2008 Should medical bills should be pertaining to financial year only or may be previous years bills can be claimed ?

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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13 March 2008 Only for financial year.

R.V.RAO

R.V.RAO (Expert)
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13 March 2008 SEC 17 (2 ) ALLOWS MEDICAL EXP. REIMBURSED AGAINST BILLS AS EXEMPT INCOME AND TAX FREE UPTO RS 15000 P.A .
BUT BILLS SHOULD RELATE TO THE FIN. YEAR FOR WHICH THE EXEMPTION IS CLAIMED.
R.V.RAO

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