HAI
MY FRIEND IS GETTING MEDICAL ALLOWANCE OF RS.28000 FROM HIS EMPLOYER.WHETHER IT IS FULLY TAXABLE OR EXEMPTION IS THERE?
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Medical allowance
Replies (10)
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.
Medical allowance is fully taxable. However meducal facility is exempted upto Rs 15000/- in a year.
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)
No you cant do so as medical allowances are fully taxable & no deduction for actual expenses allowed.
Not as medical allowance..........
TQ MADAM AND SIR
Pleasure is all us.....
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
medical allowance is fully taxable
medical allowance is taxable. here we are discussing about the Medical expenses incurred by the assessee in respect of his father.
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