Medical Reimbursement
This query is : Resolved
06 May 2011
Hi I need a clarification. Last year my company was acquired by US based company. During that time, we were given a medical reimbursement of one month basic at end of the year. But the current management is saying that it is not legal. I am surprised by the comment as old management was doing this for 10 long years. In that Case does the Auditor has not checked the accounts properly?
Is it illegal? Can anyone shed some light on this...
Is it illegal? Can anyone shed some light on this...
CMA Ramesh Krishnan
(Expert)
07 May 2011
This is based on the Company policy, in this matter no legal restrictions on paying medical reimbursement one month basic,
But as per as Income tax concern Rs.15000 per year is maximum exemption for medical reimbursement so balance is taxable
But as per as Income tax concern Rs.15000 per year is maximum exemption for medical reimbursement so balance is taxable
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