MEDICAL REIMBURSEMENT, LEAVE TRAVEL ALLOWANCE
This query is : Resolved
08 March 2020
I have received Medical Reimbursement of 18000/- , Leave Travel Allowance of 25000/-, Leave Encashment of Rs 15000/-.
You are requested to inform me , whether the above mentioned income is taxable for the FY 2019-2020.
You are requested to inform me , whether the above mentioned income is taxable for the FY 2019-2020.
09 March 2020
1 Medical reimbursement exempt upto 15000.
2 Leave travel assistance exempt to the extent of actual travel expenses.
The employee is not entitled to this benefit in every year. LTA exemption is available for 2 journeys in a block of 4 years. The block applicable for the current period is calendar years 2018-21.
3 Leave encashment fully taxable.
2 Leave travel assistance exempt to the extent of actual travel expenses.
The employee is not entitled to this benefit in every year. LTA exemption is available for 2 journeys in a block of 4 years. The block applicable for the current period is calendar years 2018-21.
3 Leave encashment fully taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- Dep. as per companies act
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- Change Of Karta In Case of Death
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
