Hi,
I have a question regarding Medical Allowance Reimbursement. In my CTC, Medical Allowance is 1250 per month. If I am not submitting any medical bills, will this amount be paid by the company to me at the end of the financial year, or is this amount only for reimbursement against the medical bills?
Regards,
Jitendra Kumar
From India, New Delhi
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1I have a question regarding Medical Allowance Reimbursement. In my CTC, Medical Allowance is 1250 per month. If I am not submitting any medical bills, will this amount be paid by the company to me at the end of the financial year, or is this amount only for reimbursement against the medical bills?
Regards,
Jitendra Kumar
From India, New Delhi
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Hi Jitendra,
This Medical Reimbursement of rupees has been added to your gross to save your taxes, as this amount is completely exempted from taxes. And yes, you are required to submit the medical bills of the same amount to avail this benefit in your account. Since this amount has to be shown as exempted from taxes, without submitting those bills, you won't avail the benefit.
Regards,
Amit Seth.
From India, Ahmadabad
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This Medical Reimbursement of rupees has been added to your gross to save your taxes, as this amount is completely exempted from taxes. And yes, you are required to submit the medical bills of the same amount to avail this benefit in your account. Since this amount has to be shown as exempted from taxes, without submitting those bills, you won't avail the benefit.
Regards,
Amit Seth.
From India, Ahmadabad
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Tax Exemption (SUPERB).doc
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