Medical reimbursment- urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2013
Kindly help!
Our company has included Medical reimbursment in the CTC. SO in the salary slip every month specific amount is shown as medical reimbursement.
Now at the close of fianancial year suppose if an employee does not submit the medical bills thn what can be done about the medical reimbursments that has been included in the salaty structure?
Can we show that amount in Form 16 as Medical reimbursment in Sec 10 allowances exempt from tax or will that be fully taxable?
Also advsie if the bill submitted are less than 15000 then what amount to be shown in the Form 16.
Our company has included Medical reimbursment in the CTC. SO in the salary slip every month specific amount is shown as medical reimbursement.
Now at the close of fianancial year suppose if an employee does not submit the medical bills thn what can be done about the medical reimbursments that has been included in the salaty structure?
Can we show that amount in Form 16 as Medical reimbursment in Sec 10 allowances exempt from tax or will that be fully taxable?
Also advsie if the bill submitted are less than 15000 then what amount to be shown in the Form 16.
Santosh Mishra
(Expert)
27 February 2013
If you dont submit medical bills in year end, the amount would be added to your taxable income and taxed.
If you submit bills for less than 15000 than differential amount would be taxed.
If you submit bills for less than 15000 than differential amount would be taxed.
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