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Feb 29, 2016 · My company allows as fixed medical allowance of Rs 20 000 per year irrespective of actual expenditure Can I claim an exemption of Rs 15000 as medical reimbursement on production of valid bills If so then under which section does this exemption fall Kindly clarify thanks - Income Tax
May 19, 2010 · As per an amendment in the Budget 2018, tax exemption on medical reimbursement amounting to INR 15,000 and transport allowance amounting to INR 19,200 in a financial year have been replaced with a standard deduction of INR 40,000. This amendment will be applicable starting FY 2018-19 (i.e. starting 1st April 2018).
Jun 17, 2017 · Reimbursement of medical expenses actually incurred by an employee for his medical treatment or the treatment of any member of his family upto Rs. 15,000 per annum is not treated as a taxable perquisite as per Clause (v) of the Proviso to Section 17 (2) of the Income Tax Act. BUT any amount of Medical Allowance is fully taxable.
Feb 4, 2024 · 06 February 2024 the sumptuary allowance provided to a judge under Section 23B; (d) the value of leave travel concession provided to a judge and members of his family, shall not be included in the computation of his income chargeable under the head "salaries" under section 15 of the Income-tax act, 1961."
Jun 12, 2021 · Following are the allowances for the purposes of Section 10(14)(iii) along with prescribed amount of exemption: (i) Any special allowance in the nature of Composite Hill Compensatory Allowance/High Altitude Allowance/Uncongenial Climate Allowance/Snow Bound Area Allowance/ Avalanche Allowance: Exemption allowed upto Rs. 300 p.m. to Rs. 7,000 p.m.
Dec 13, 2023 · Border Area Allowance: This allowance is allowed for army personnel and ranges from Rs. 200 to Rs. 1,300 per month. Special Compensatory Allowance: For employees working in hilly regions of the country, allowances like high altitude allowance, uncongenial climate allowance, snowbound area allowance, or avalanche allowance are offered, which range from Rs. 300 to Rs. 7,000 per month.
Jun 14, 2024 · This allowance is partially exempt under Section 10 (14) to provide financial relief. The exempt amount is deducted from the full amount and the remaining amount is subject to tax. The exempt amount for the Counter Insurgency Allowance are: For Junior Commissioned Officers (JCO) and Other Ranks: Up to ₹ 3,900 per month is exempt from income tax.
Jan 24, 2011 · Dinesh S Adhikari, ACMA (Expert) 25 January 2011 Sanitary Allowance received by High Court and Supreme court judges are fully exempt. 18 March 2011 Income tax Act,1961 does not provide any exemption to any allowance to Judges of Courts in India. However ,judges of Supreme Court and High Court get , certain specific allowance which are also made ...
Aug 5, 2014 · My medical allowance is 26500 but in form 16 medical allowance is not given as exempted allowance of 15000 ...
Apr 24, 2008 · We want to Pay a fixed monthly Medical Allowances instead of Medical Reimbursement to our employee (the same is taxable on the hand of employees) My Question is at the time computing the Employees Income Tax whether This Medical Allowance upto Rs. 15,000/- can be shown as Deduction from the Taxable Income.
