medical exp.
This query is : Resolved
CA Kanwaljeet
(Querist)
10 February 2010
dear expert,
during the audit i found that a manager of company has reimburse medical exp. from the company during 2009-10, so i want to know that what should be treatment of this medical exp., and also there is payment of 150000/- by cash ot any other,,,,
during the audit i found that a manager of company has reimburse medical exp. from the company during 2009-10, so i want to know that what should be treatment of this medical exp., and also there is payment of 150000/- by cash ot any other,,,,
Selvakumar Selvaraj
(Expert)
10 February 2010
For FY 2009-10, up to Rs.15000/- pa reimbursement of expenditure is not taxable in the hands of employee. if more than that it is taxable as perquisites in his hand. But for the company it an allowable expenses provided it should not be an excessive in nature.
Message likes :
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10 February 2010
at the same time you need to chk the salary structure of the cocern manager whether he have a component called "medical reimbursement" in his salary.
CMA Ramesh Krishnan
(Expert)
10 February 2010
medical reimbursement exempted up to Rs.15000/-
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