X, a Govt. employee received Rs. 3.5 lakh during FY 2007-08 against the Medical Expenses borne by him for some critical disorder during the FY 2001-03.
What will be the Tax Treatment of the Reimbursement received during the Previous Year and how much exemption can he claim?
Dear,
Read section-17 of Income Tax Act, 1961.
regards,
Sirs,
Background : Upon attaining 55 years of age and completing 20 years of central government service, I opted out on voluntary retirement (but not under VRS). Retiremeent benefits having been settled, I receive Rs. 100/= per month medical allowance.
Question : Am I eligible for exemption for tax purposes under Section 17 (2) of Income Tax Act, if i have bracketed with taxable income.
Regards,
Medical expenses can re-imburse? U/s 80DDB - mentioned specified dieses ?
Is it Salary to the Director for the Company, If co. reimburse more than 40000 to Director of Co.as medical Exp.?
Sir,
I am working in a carporate sector, and here is Medical reimburs facility is being provide by employer for maximum Rs. 30,000/- P.A but I don't claim any reimburshment during one or two year, can this balance amount be carry forwerd to next year?
Indrajeet
CAclubindia
