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 it can be just included and paid with the salary.
15 days basic salary is given as medical reimbursement. Whether this money can be given once in 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 me. My email Id:
Regards,
Mary
From India, Madras
2Medical Allowance of Rs. 1250/- per month is exempted from tax. Is any medical bill to be given for this Rs. 1250/-. Or it can be just included and paid with the salary.
15 days basic salary is given as medical reimbursement. Whether this money can be given once in 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 me. My email Id:
Regards,
Mary
From India, Madras
Hi Mary,
Yes its 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 in a year.
Regards,
Amit Seth.
From India, Ahmadabad
Yes its 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 in a year.
Regards,
Amit Seth.
From India, Ahmadabad
The payment cycle depends upon company policies and varies from company to company. Most of the companies reimburseme this amount every quarter. But there are companies which pay it on as and when basis. That is, a person can claim this on production of receipts any time subject to maximum reimbursement of Rs. 15000 in a year.
Hi Mary,
The medical allowance of Rs.1250/- P.M. i.e. Rs.15000/- annually is exempt from tax provided the employee has to produced the medical bills for the same for the expenses incurred on him /her or his/her family as per the IT rules.
Please get the medical declaration form alongwith the medical bills.
Regds,
Sushil
The medical allowance of Rs.1250/- P.M. i.e. Rs.15000/- annually is exempt from tax provided the employee has to produced the medical bills for the same for the expenses incurred on him /her or his/her family as per the IT rules.
Please get the medical declaration form alongwith the medical bills.
Regds,
Sushil
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Medical Reimbursement Format.doc
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