Tds on Reimbursement
This query is : Resolved
17 March 2011
I have deducted Medical premium for an employee from his salary and paid to insurance company
now he has incurred some amount for medical exp and got the reimbursement from insurance company
But it was routed through company
my Que is should i deduct TDS when i pay to him the reimbursement received from insurance company
is that amount is liable for income tax
should this be added as his taxable income
since Medical exp reimb from company is excempt upto 15000/-
should this be consider as medical reimbursement
now he has incurred some amount for medical exp and got the reimbursement from insurance company
But it was routed through company
my Que is should i deduct TDS when i pay to him the reimbursement received from insurance company
is that amount is liable for income tax
should this be added as his taxable income
since Medical exp reimb from company is excempt upto 15000/-
should this be consider as medical reimbursement
Neeraj Bansal CA
(Expert)
17 March 2011
NO THIS IS NOT A REVENUE RECEIPT
THIS IS A CAPITAL RECEIPT AND COMPANY IS NOT PAYING ANYTHING HIMSELF IT IS JUST A TRANSFER
NO NEED TO DEDUCT TDS
IF ANYHTING MORE TELL ME
NEERAJ BANSAL (CA)
THIS IS A CAPITAL RECEIPT AND COMPANY IS NOT PAYING ANYTHING HIMSELF IT IS JUST A TRANSFER
NO NEED TO DEDUCT TDS
IF ANYHTING MORE TELL ME
NEERAJ BANSAL (CA)
Message likes :
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18 March 2011
Does a employee(individual) have to add this as income - as Medical expenses reimburse by company is given as excempt upto Rs. 15000/-
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