Dear All,
We have a practise of giving medical allowance as a Reimbursemnet to all our employees.The amount that we consider to do the same is 1250 per month.
Now i want this to be given as a part of salary instead of reimbursement.But our finance guys says it can be dobe as then its taxable.as per my understanding it should not be taxable upto15000 per annum.
Looking for your kind advise on the same
with regards,
Swarali
From China, Beijing
1We have a practise of giving medical allowance as a Reimbursemnet to all our employees.The amount that we consider to do the same is 1250 per month.
Now i want this to be given as a part of salary instead of reimbursement.But our finance guys says it can be dobe as then its taxable.as per my understanding it should not be taxable upto15000 per annum.
Looking for your kind advise on the same
with regards,
Swarali
From China, Beijing
Dear Swarli,
You can pay this amout in payroll. Instead of paying Rs.1250pm. Kindly pay Rs.875pm and the rest Rs.375 will be deducted as tax. during the financial year end ask your employees to submit the medical bills for Rs.15000, If they submit the dedcuted tax will be paid to them else......they wont get any thing.
if you have further queries, dont hestitate to mail at
Regards
Dasa
From India, Bangalore
You can pay this amout in payroll. Instead of paying Rs.1250pm. Kindly pay Rs.875pm and the rest Rs.375 will be deducted as tax. during the financial year end ask your employees to submit the medical bills for Rs.15000, If they submit the dedcuted tax will be paid to them else......they wont get any thing.
if you have further queries, dont hestitate to mail at
Regards
Dasa
From India, Bangalore
Dear Dasa, Can you give me your contact number?I would like to talk to you about it. With regards, Swarali
From China, Beijing
From China, Beijing
hello,
If they submit bills at the year end, how can we repay 375 that is deducted as TDS for every month; as we would be paying TDS to government every month.
how can we return the amount to them which was already paid to Departments ?
Sudha
From India, Hyderabad
If they submit bills at the year end, how can we repay 375 that is deducted as TDS for every month; as we would be paying TDS to government every month.
how can we return the amount to them which was already paid to Departments ?
Sudha
From India, Hyderabad
dear dasa,
Pls suggest me in this matter.........
My company has deducted Rs.1250 as medical reimbursement to my salary from last month.
Is there any orocess to save this amount???????
I asked to my HR they replied just mark a mail that pls treat this medical reimbursement as medical allowance (taxable income) and don't deduct it from my salary, then you will get back this amount.
should i go for this?????
Pls suggest me.i expect your prompt reply on this.
Regards,
Archana
From India, Delhi
Pls suggest me in this matter.........
My company has deducted Rs.1250 as medical reimbursement to my salary from last month.
Is there any orocess to save this amount???????
I asked to my HR they replied just mark a mail that pls treat this medical reimbursement as medical allowance (taxable income) and don't deduct it from my salary, then you will get back this amount.
should i go for this?????
Pls suggest me.i expect your prompt reply on this.
Regards,
Archana
From India, Delhi
15k in a year is tax free. But companies have a rule that if your basic is less than 15k then this amount is considered as tax free under medical allowance component, as this is what you are eligible for.
You don't get this tax rebate by right, but you have to submit medical bills/ spectacle bills along with the doctors prescription in order to avail the benefit.
Ralston
www.ralstonraz.blogspot.com
From India, Mumbai
You don't get this tax rebate by right, but you have to submit medical bills/ spectacle bills along with the doctors prescription in order to avail the benefit.
Ralston
www.ralstonraz.blogspot.com
From India, Mumbai
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