Medical Allowance [Thread 51594]

smwadi
15000 rs is allocated for medical allowance and it can be tax free if we provide the bills..
My question is -- Can I provide doctor's consultance charge bills....Or Can I provide doctor's surgery charge bills?
Amitmhrm
Yes, you are very true.. Amount of rupees 15000/- in a year is exempted from Taxes..
To avail this benefit, one is to provide the Medical Bills to the commercial department..
Regards,
Amit Seth.
Ag_hr
Dear All,
Greetings!!
Of course the information provided is correct.
I have another query.
Going further , in case an employee has a component of Rs. 15,000 as Medical Reimbursement in one's salary. The person does not claim it during the finacial year. Nor does the person has the supporting bills to claim that amount. :( .
Now is it possible to claim that amount as "taxable" without submitting any bills? :?:
In my company this is not allowed, but I would like to know the Industry norm as per the Income Tax Rules.
Looking forward to your comments.
Thanks in advance.
Warm Regards,
Ag
Zakir Malik
Dear
If you can justify consultancy charges to the extent of Rs. 15,000/- it surely can be done, but supportings regarding the same like medical bills, certain test reports etc. needs to be produced.
Reply at [Login to view]
Regards
Zakir
Hiten Parekh
In case the employee does not have enough supporting bills he can claim the amount and the same gets taxable.
Our organisation practices this and many others also.
If the amount of Rs 15000 is part of your agreed upon CTC, then the company should pay it. Here (in case of employee not having bills) the company will not lose or gain anything, but employee will not get relief in IT calculation. Company should make the payment of amount agreed upon in CTC and consider it as taxable in indivudual's tax calculation. If not supported by bills, it will be allowance and not reimbursement.
Hope the sam is of some help to you.
- Hiten
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute