Hi friends,
I would like to know the following:
Medical Allowance of Rs. 1250/- per month is exempted from tax. Is any medical bill to be given for this Rs. 1250/-? Or can it just be included and paid with the salary?
15 days' basic salary is given as medical reimbursement. Whether this money can be given once a year or it can be given along with the salary every month, i.e., dividing the 15 days' basic salary into 12 months. Kindly clarify for me.
My email Id: s_mary10@rediffmail.com
Regards,
Mary
From India, Madras
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2I would like to know the following:
Medical Allowance of Rs. 1250/- per month is exempted from tax. Is any medical bill to be given for this Rs. 1250/-? Or can it just be included and paid with the salary?
15 days' basic salary is given as medical reimbursement. Whether this money can be given once a year or it can be given along with the salary every month, i.e., dividing the 15 days' basic salary into 12 months. Kindly clarify for me.
My email Id: s_mary10@rediffmail.com
Regards,
Mary
From India, Madras
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Hi Mary,
Yes, it's true that Medical Allowance of Rs. 1250 is exempted from the tax, and yes, a medical bill is required for the same. Regarding medical reimbursement, mostly it is given once a year.
Regards,
Amit Seth
From India, Ahmadabad
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Yes, it's true that Medical Allowance of Rs. 1250 is exempted from the tax, and yes, a medical bill is required for the same. Regarding medical reimbursement, mostly it is given once a year.
Regards,
Amit Seth
From India, Ahmadabad
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The payment cycle depends on company policies and varies from company to company. Most companies reimburse this amount every quarter. However, there are companies that pay it on an as-needed basis. That is, a person can claim this upon production of receipts at any time subject to a maximum reimbursement of Rs. 15,000 in a year.
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Hi Mary,
The medical allowance of Rs. 1250/- per month, i.e., Rs. 15,000/- annually, is exempt from tax provided the employee has to produce the medical bills for the expenses incurred on him/her or his/her family as per the IT rules. Please get the medical declaration form along with the medical bills.
Regards,
Sushil
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The medical allowance of Rs. 1250/- per month, i.e., Rs. 15,000/- annually, is exempt from tax provided the employee has to produce the medical bills for the expenses incurred on him/her or his/her family as per the IT rules. Please get the medical declaration form along with the medical bills.
Regards,
Sushil
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Tax Exemption (SUPERB).doc
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