My senior citizen Mom received medical reimbursement of 80000. Her total income after adding this 80000 is below 2.5 lacs. Does she have to file returns? I assume this is under "other sources " and taxable at 15%, amount is 65000. Right?
Menu
No taxable income, but medical reimbursement exceeds 15000
Replies (7)
Dear brar in case of senior citizen slab is 2.5lakh so if your mum is below that then not to worry for filling of income tax return. But if any tds is deducted then file your return to claim the refund of the same.
| Originally posted by : Manoj Mehta | ||
 |
Dear brar in case of senior citizen slab is 2.5lakh so if your mum is below that then not to worry for filling of income tax return. But if any tds is deducted then file your return to claim the refund of the same. | Thanks. I have read on many sites that med reimb is treated differently. And taxed at 15% irrespective of tax slab, if amount is more than 15000. Can you confirm your advice? |
| Originally posted by : Manoj Mehta | ||
|
Dear brar in case of senior citizen slab is 2.5lakh so if your mum is below that then not to worry for filling of income tax return. But if any tds is deducted then file your return to claim the refund of the same. | Thanks. I have read on many sites that med reimb is treated differently. And taxed at 15% irrespective of tax slab, if amount is more than 15000. Can you confirm your advice? |
Please post link here.
Dear brar , firstly when we go for tax payments we check the limits and slabs and if the assessee is below the same no such thing can be charged. So I m sure in your case your tax amount will be nill. But I would like to see the same about which said above. So please paste link here.
regards
Mehtabhai, I think I saw info about the 15% tax at the IT site also. but, I have been unable to find the relevant link. Probably it related to previous year but I am certain I read it in more than 1 place.
but, I'll abide by your advice on this.
Panditji: from ex employer. this was a one off payment/ aid to all retiries of ongc. doctor prescripttion was provided. seems no tds was cut.
Recent Topic
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
- Form 121 eligibility for non deduction of TDS for
- Gold/silver etf. STCG. how to decalre in ITR at s
- ITR-2 : cash income that does not fall under any h
Related Topics
CAclubindia
