Medical Reimbursement

Save Share

This query is : Resolved

CA Anil Jain (Querist)

19 December 2007 Medical Reimbursement is exempted up to 15000/- to the salaried employee.But if he worked for 9 months in a F/Y whether whole amt of 15000 will be exempted or 11250???

CA. Vineet Grover

CA. Vineet Grover (Expert)

19 December 2007 Hi Anil,

The exemtion amount is Rs.15000 per year. In my opinion he may claim for the entire amount, as its not a monthly exemption but a yearly exemtion.

Rgds/

Vineet

Ravikumar.G

Ravikumar.G (Expert)

19 December 2007 If he has not worked anywhere he can claim the entire amount. Otherwise proportionately it should be adopted.

K V Subba Rao

K V Subba Rao (Expert)

19 December 2007 As far as filing of Return and Assssment is concerned, the employee can claim full amount of Rs 15000 irrespective of (a) whether he spent the same in one or more months only or all through the year uniformly, (b) whether he is in employment or not for all the twelve months and (c) whether he worked with one employer or more than one during the FY.

If the employee has worked under two employers during the FY, I opine that first employer need not hesitate to adopt entire amount of Rs 15000 for TDS purpose.This is because the employee may putforth that by God's grace, he may not have to spend any thing towards medical expenss in the later part of the FY.

CA Anil Jain

CA Anil Jain (Querist)

24 December 2007 Thanks a lot.
But if d employee worked only 4 months april to july. Whether any month's bill may be presented?i.e. after july also?

Amit Sharma

Amit Sharma (Expert)

04 January 2008 The exemption is yearly amount of 15,000 and this exemption is not made not no of months worked.

No PROPORTIONATE AMOUNT IS REQUIRED TO BE COMPUTED

CA Anil Jain

CA Anil Jain (Querist)

09 January 2008 Mr.Amit
If the Employee have left the JOb at the end of July then how can he can present after july's bills?.
Plz Note that He is under salary only till july (i.e. no employment anywhere after july)

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)

20 February 2008 The medical expenses received by the employee if exceeds Rs.15000/- will be taxed on the balance amount exceeding Rs.15000/- irrespective of his date of joining or leaving.

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