Reimbursement of Medical Expenses by Employer.
This query is : Resolved
04 May 2010
Dear All,
Reimbursement of medical expenses by employer to employee is tax free perquisite in Income tax upto Rs.15000/- pa. Whether this limit is Rs.1250 pm or 15000 as whole for a year. I.e if any employee submitted bill of Rs.25000 in one month, whether Rs.15000 is tax free perqusite against Rs.25000/ - paid as once.
Please give your valuable suggestion & advise on it.
Reimbursement of medical expenses by employer to employee is tax free perquisite in Income tax upto Rs.15000/- pa. Whether this limit is Rs.1250 pm or 15000 as whole for a year. I.e if any employee submitted bill of Rs.25000 in one month, whether Rs.15000 is tax free perqusite against Rs.25000/ - paid as once.
Please give your valuable suggestion & advise on it.
04 May 2010
ALLOWABLE. IT IS RS 15000/- PA I.E. FOR WHOLE YEAR.EVEN IF EXPENSES OF 15000/- INCURRED IN MARCH. THE SAME WILL BE EXEMPT.
CMA Ramesh Krishnan
(Expert)
04 May 2010
It is whole year basis, In a year it can be paid lumpsum or installment against the bills.but the yearly maximum limit is Rs.15000
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