medical Reimbursement

Tax planning 504 views 2 replies

Our company is pay fixed amount of medical for evert month

but for the purpose of tax planning how can we allow is a exemption amount of 15000/-

Replies (2)

Take the proof from the employees for medical expenditure like hospital bills, medical bills, doctor consultancy fees etc and allow actual amount paid or bills produced which ever is lower as exempt.

The amount your company is paying will be exempted in your hand but taxable in hands of employee........

you can make it non-taxable for employee by paying them at the time of need like if they made any medical Exp. than if you will make the payment then the same shall be exempted in both hanbd........

Sub to that the bill shall be in the name of Emp,wife, son , daugthers, and parents sub to max. of rs. 40000 for himself and 60000 for his parents.........

if you will pay him for the same than same will not be included in his income and ultimately amoun to tax saving for the employee.........


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