Hi All,
Please let me know procedure of medical & LTA tax deductions on salary.
For Ex: Our employee's having the gross salary with medical ( apx: 1250/-) & LTA ( Apx: 3333/-). We have deducted both the component and said to employees to submit the respective bills and we will reimburse the same without tax. Is this procedure right or wrong? Pl let me know.
And also let me know how much tax need to be deducted on medical & LTA annually, when the employees are unable to submit the bills for the financial year.
Please give the clarification on the same.
Regards,
Ashwini
Please let me know procedure of medical & LTA tax deductions on salary.
For Ex: Our employee's having the gross salary with medical ( apx: 1250/-) & LTA ( Apx: 3333/-). We have deducted both the component and said to employees to submit the respective bills and we will reimburse the same without tax. Is this procedure right or wrong? Pl let me know.
And also let me know how much tax need to be deducted on medical & LTA annually, when the employees are unable to submit the bills for the financial year.
Please give the clarification on the same.
Regards,
Ashwini