Medical reimbursement and transport allowance knocked out - CiteHR
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Dear All,
Greetings!
As per new financial year the new rule book has eliminated both Medical Reimbursement and Transport Allowance. Now there is a flat deduction of 40,000 without any bills for all salaried employees.
Kindly have a look at the below link.
https://economictimes.indiatimes.com...w/63416163.cms
Does anyone have any idea, please explain me the new rules.
Thanks in Advance
Shalini

Hello there,
Yes the rule has been implemented but bills has to submitt, even though it is tax exempted

Dear Shalini,
Earlier medical reimbursement of upto INR 15,000 per year and transportation allowance of upto INR 19200 was exempted from income tax upon submission of bills of medical reimbursement alone. From this FY, the aforesaid provisions have been removed and rather a standard deduction of INR 40,000 has been introduced. This means that a flat Rs. 40,000 will be reduced from one's taxable income and no rebate will be given on medical reimbursement and transportation allowance.
Regards
Rahul

Which documents need for ESIC clame.after resign job .and this clame applicableor not after resign the job
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™