Medical Remibursement & Conveyance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2011
Hi,
If an employee leaves the Organization in Feb then is he eligible for exemption of Rs.15000 under medical reimbursement or (Rs.1250*11= Rs.13750)
And conveyance will be exempted for Rs.(800*11=8800) or it depends upon no of days worked in the last month.
If an employee leaves the Organization in Feb then is he eligible for exemption of Rs.15000 under medical reimbursement or (Rs.1250*11= Rs.13750)
And conveyance will be exempted for Rs.(800*11=8800) or it depends upon no of days worked in the last month.
30 April 2011
The exemption Rs.15000/- for medical reimbursement given under u/s 17(2) of the IT Act is for the whole year. It need not be worked out on monthly / day basis. Hence the total amount is eligible for exemption.
For the conveyance the exemption given is Rs.800/- p.m. It need not be worked out on daily basis.
For the conveyance the exemption given is Rs.800/- p.m. It need not be worked out on daily basis.
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