Dear Friends,
My employer is offering me 10,000/- p.a as medical reimbursement.
I wanted to know that, If I produce medical bills less than 10K, say suppose I am producing medical bills of 5K:
- How can I claim rest 5K?
- Will they forward rest 5K to next FY?
- Will they give me rest 5K after deducting tax?
- What would be other possibilities?
Pls help.
Thanks,
YUSUF
From India, Calcutta
My employer is offering me 10,000/- p.a as medical reimbursement.
I wanted to know that, If I produce medical bills less than 10K, say suppose I am producing medical bills of 5K:
- How can I claim rest 5K?
- Will they forward rest 5K to next FY?
- Will they give me rest 5K after deducting tax?
- What would be other possibilities?
Pls help.
Thanks,
YUSUF
From India, Calcutta
Hi It depends on your company’s policy. Many companies pay the balance in the same year and deduct tax as per the provisions of IT Check your company’s Policy Siva
From India, Chennai
368From India, Chennai
Hi,
As a practice, your unclaimed reimbursements are added in SPL ALLOWANCE at the end of financial year and after deducting tax at source that amount is given in the form of inhand salary.
If u have anymore doubts, drop me a mail.
KATYANA
From India, Gurgaon
As a practice, your unclaimed reimbursements are added in SPL ALLOWANCE at the end of financial year and after deducting tax at source that amount is given in the form of inhand salary.
If u have anymore doubts, drop me a mail.
KATYANA
From India, Gurgaon
Hello Katyana: Our company says the unclaimed amount will get carry forward to next FY. Is this something under law or company’s own practice? -YC
From India, Calcutta
From India, Calcutta
has honourable court ruled that medical bills are not necessary for a amount of Rs.1250 per month i.e. Rs. 15000 a year and this amount will be non taxable
Hi,
As per my knowledge the amount under consideration is a reimbursement for medical expenses termed as domicillary. In the case as described by you it is a structuring of the salary and not a true benefit. None the less being a reimbursement, the medical bill have to be submitted
As per my knowledge the amount under consideration is a reimbursement for medical expenses termed as domicillary. In the case as described by you it is a structuring of the salary and not a true benefit. None the less being a reimbursement, the medical bill have to be submitted
Hi,
I think you first need to ascertain if the 10,000 allocated is a part of your salary or is it a true benefit (over and above salary)
If it is a part of salary then you are eligible to get the amount for which you have not been able to produce bills post tax deduction.
If it is over and above salary then you are not entitled to get any amount over and above what you have incurred. in such a case the amount would lapse or get carried forward as per your company policy
I think you first need to ascertain if the 10,000 allocated is a part of your salary or is it a true benefit (over and above salary)
If it is a part of salary then you are eligible to get the amount for which you have not been able to produce bills post tax deduction.
If it is over and above salary then you are not entitled to get any amount over and above what you have incurred. in such a case the amount would lapse or get carried forward as per your company policy
Hi All,
I have to set procedure for Medical reimbursement this month onwards. Can anyone help me in this. I understand that 15000/- can be claimed as tax free if necessary bills are provided. As an employer how should i go about.
Regards,
Vidya
I have to set procedure for Medical reimbursement this month onwards. Can anyone help me in this. I understand that 15000/- can be claimed as tax free if necessary bills are provided. As an employer how should i go about.
Regards,
Vidya
Dear Noel, I understood ur point that if its a part of my salary then I would get it after tax deduction.But would I get in the same financial year?
Hi Vidya,
As per Govt norms up to a max of Rs.15000/- per year can be claimed towards medical reimbursemnt on producing the medical bills( The bill could be in the name of the employee or immediate dependents). On a monthly basis this would come to Rs.1250/- the employee can either submit bills on a monthly, quarterly, half yearly or on annual basis... this completely depends on the company policy.
If by the end of the year he is not able to submit bills worth Rs.15000/- then the balance amount is credited along with his salary after deducting tax.
Rgds,
Lakshmi
From India, Bangalore
As per Govt norms up to a max of Rs.15000/- per year can be claimed towards medical reimbursemnt on producing the medical bills( The bill could be in the name of the employee or immediate dependents). On a monthly basis this would come to Rs.1250/- the employee can either submit bills on a monthly, quarterly, half yearly or on annual basis... this completely depends on the company policy.
If by the end of the year he is not able to submit bills worth Rs.15000/- then the balance amount is credited along with his salary after deducting tax.
Rgds,
Lakshmi
From India, Bangalore
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