As per the current IT rules, ₹15,000 is allocated for medical allowance, and it can be tax-free if we provide the bills. My question is, do I need to provide original medical bills for the medical allowance claim, or is a photocopy sufficient?
From India, Ahmedabad
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1From India, Ahmedabad
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If you invest in a medical health cover policy with an insurance company and pay the premium by cheque, a maximum of Rs. 15,000 can be claimed as a deduction from taxable income. Section 80D is relevant in this connection. Premiums paid out of the current year's taxable income for self, spouse, or dependent children will be eligible for a deduction. A copy of the premium receipt duly stamped and signed by the insurance company will be sufficient proof of payment.
From India, Pune
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From India, Pune
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To avail medical reimbursement, you need to provide original bills
From India, New Delhi
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From India, New Delhi
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Thanks nathrao for your reply. I think you are saying about Mediclaim Premium- 80D. I am not clear about bill producing for Medical Reimbursement component.
From India, Ahmedabad
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From India, Ahmedabad
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To clarify:
Reimbursement and allowance have different connotations in the Income Tax Act. Medical reimbursement up to Rs. 15,000 is tax-free subject to the production of original bills. Medical allowance does not require the production of bills.
From India, Pune
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Reimbursement and allowance have different connotations in the Income Tax Act. Medical reimbursement up to Rs. 15,000 is tax-free subject to the production of original bills. Medical allowance does not require the production of bills.
From India, Pune
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Does one need to surrender the X rays at the time of submission of claim for reimbursement from Insurance Company?
From India, Mumbai
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From India, Mumbai
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Logically speaking Xray should not be surrendered and bill for payment of Xray charges in original should suffice. Xray will be required by you as your medical record.
From India, Pune
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From India, Pune
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Dear All What if it is HR is not showing Medical Reimbursement in the salary break-up is it applicable to employees or can he raise the bills for I-Tax please
From India, Bengaluru
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From India, Bengaluru
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Original medical bills (the expense on account of yourself and dependents) should be produced. Photocopies can invite audit objections as there is no guarantee that two persons used the same bill for the claim (e.g., Husband and Wife in two companies). Also, you are not supposed to produce the same bill for insurance claim and then for medical reimbursement.
Now Zeta kind of services are available where employees upload the bills in the app, and they take care of verification. Some companies follow this route to get rid of medical bill checking, etc.
However, from next year onwards, you can forget these bills - Impact of the new budget "Salaried taxpayers and pensioners need not have to furnish any bills or documents to claim the standard deduction of ₹40,000 announced in the budget on February 1."
From India, Bangalore
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Now Zeta kind of services are available where employees upload the bills in the app, and they take care of verification. Some companies follow this route to get rid of medical bill checking, etc.
However, from next year onwards, you can forget these bills - Impact of the new budget "Salaried taxpayers and pensioners need not have to furnish any bills or documents to claim the standard deduction of ₹40,000 announced in the budget on February 1."
From India, Bangalore
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ORIGINAL 1s.ppt
Shiva - Original.jpg
Would like to know your mobile is original or not.......doc