Medical allowance

Tax planning 3046 views 10 replies
User Avatar

ca final
388 Points Joined January 2015

HAI

        MY FRIEND IS GETTING MEDICAL ALLOWANCE OF RS.28000 FROM HIS EMPLOYER.WHETHER IT IS FULLY TAXABLE OR EXEMPTION IS THERE?

0 Reply Share Follow
On 17 June 2017 at 20:36 Report
Replies (10)
User Avatar

online

SEO Sai Gr. Hosp.
208844 Points Joined July 2016

Reimbursement of medical expenses actually incurred by an employee for his medical treatment or the treatment of any member of his family upto Rs. 15,000 per annum is not treated as a taxable perquisite as per Clause (v) of the Proviso to Section 17 (2) of the Income Tax Act.

BUT any amount of Medical Allowance is fully taxable.

1 Reply
On 17 June 2017 at 20:45
User Avatar

Chartered Accountant
86505 Points Joined April 2011
Medical allowance is fully taxable. However meducal facility is exempted upto Rs 15000/- in a year.
1 Reply
On 17 June 2017 at 20:46
User Avatar

ca final
388 Points Joined January 2015

TQ SIR AND MADAM

                      CAN YOU PLEASE TELL ME WHEATHER HE CAN TAKE RS.15000(NO REIMBURSMENT) BENEFIT EVEN HE IS GETTING MEDICAL ALLOWANCE.(ACTUALLY HE IS INCURRING 20000 AS MEDICAL EXPENSES FOR HIS FATHER)

1 Reply
On 17 June 2017 at 20:52
User Avatar

Chartered Accountant
86505 Points Joined April 2011
No you cant do so as medical allowances are fully taxable & no deduction for actual expenses allowed.
1 Reply
On 17 June 2017 at 20:56
User Avatar

online

SEO Sai Gr. Hosp.
208844 Points Joined July 2016

Not as medical allowance..........

1 Reply
On 17 June 2017 at 20:57
User Avatar

ca final
388 Points Joined January 2015

TQ MADAM AND SIR

1 Reply
On 17 June 2017 at 20:57
User Avatar

Chartered Accountant
86505 Points Joined April 2011
Pleasure is all us.....
1 Reply
On 17 June 2017 at 21:12
User Avatar

12244 Points Joined May 2017
if your father is 80 years at any time during the previous year then you can claim medical expenses to an extent of rs. 30000 and there should not be any medical insurance in the name of the father
1 Reply
On 17 June 2017 at 23:42
User Avatar

60 Points Joined June 2017
medical allowance is fully taxable
1 Reply
On 18 June 2017 at 10:19
User Avatar

12244 Points Joined May 2017
medical allowance is taxable. here we are discussing about the Medical expenses incurred by the assessee in respect of his father.
Reply
On 18 June 2017 at 13:38


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading