taxable income
This query is : Resolved
28 January 2009
We are giving medical reimbursements of Rs.15000/- to our staff, is that income to be added their gross income or not when we are calculating their taxable income.
(Individual salary persons).
Thanks in advance.
Amar.
(Individual salary persons).
Thanks in advance.
Amar.
CA Hemant T Dewani
(Expert)
28 January 2009
Expenditure tax exempted up to Rs. 15,000/- in case of treatment taken at any Hospital/ Clinic etc. However it is fully tax free in the following cases:-
*
Expenditure incurred by an employee/ his family members at any Hospital maintained by Govt./ Local authority/ approved by govt.
*
Expenditure incurred by an employee/ his family members in respect of treatment of diseases specified in Rule 3A of Income Tax Rules’ 1962/ Hospital approved by Chief commissioner of Income tax.
*
Any portion of Insurance premium either paid by the employer or reimbursed to the employee for the Health Insurance of his employee under a scheme approved by central Govt./ IRDA.
*
Expenditure incurred by an employee/ his family members at any Hospital maintained by Govt./ Local authority/ approved by govt.
*
Expenditure incurred by an employee/ his family members in respect of treatment of diseases specified in Rule 3A of Income Tax Rules’ 1962/ Hospital approved by Chief commissioner of Income tax.
*
Any portion of Insurance premium either paid by the employer or reimbursed to the employee for the Health Insurance of his employee under a scheme approved by central Govt./ IRDA.
CA.Tarun Maheshwari
(Expert)
28 January 2009
Very well Explained.
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