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
- Cgst asmt - 10
- E-Invoice applicability related question
- CAN a GSTIN registered under rule 14A opt for composition scheme without withdrawal from rule 14A ??
- PTEC-payment
- Journal entry of TDS operative a/c dr (under withdrawal side of bank a/c)
- Expenses in f&o trading
- APPEAL-INCOME TAX
- Rejection of the application for the registration of a society in Andhra Pradesh state
- REFUND OF TDS CLAIM
- Refund of accumulated ITC - Reg.
- RELATED TO ITR OF POLITICAL PARTY
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- INCOME TAX QUERY FY25-26()\
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
