Reimbursement of Medical Expenses
This query is : Resolved
Kirti Sanghavi
(Querist)
02 April 2009
Dear All
As per I.Tax Act medical expense reimbursement for the year Rs 15000/- is expempt from tax.
If company pay 12500 in F.Y.2008-09 and balance Rs2500 booked as provision and issue cheque/cash in the financial year 2009-10.
My question is
1) is whole amount Rs15000 is tax free?
2) is requirement is to be paid in same financial year
3) can we paid two financial year reimburesment in one financial year.
thanking you
As per I.Tax Act medical expense reimbursement for the year Rs 15000/- is expempt from tax.
If company pay 12500 in F.Y.2008-09 and balance Rs2500 booked as provision and issue cheque/cash in the financial year 2009-10.
My question is
1) is whole amount Rs15000 is tax free?
2) is requirement is to be paid in same financial year
3) can we paid two financial year reimburesment in one financial year.
thanking you
CA.Tarun Maheshwari
(Expert)
02 April 2009
1. Yes, whole amount is tax free if made part of salary of employee.
2. No requirement of payment. It acn be made due in the name of employee and paid lateron.
3. You can pay two financial year reimbursement in one financial year. But expenses(Salary) are to be booked for each year.
2. No requirement of payment. It acn be made due in the name of employee and paid lateron.
3. You can pay two financial year reimbursement in one financial year. But expenses(Salary) are to be booked for each year.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
