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Medical Reimbursement Upto 15000 pa is exempt

If bills not given then Taxable 

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Q1

   
Basic Salary40000pm
 Medical Reimbursement1250pm

'There is no policy to collect Bills

Calculate  Amount Received,Exempt and Taxable

-a-

PARTICULARSAMOUNT RECEIVEDEXEMPTTAXABLE
Basic Salary40000040000
Medical Reimbursement125001250
Total41250041250

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If Medical Bills Submitted, then

From April-Feb  -Fully Exempt

In March-15000 less Total Bills Submitted dring year will be taxable

Q2

  
Basic Salary30000 pm
 Medical Allowance)1250  pm
There is policy to collect Bills in Company 
Employee submits bill as follows 
MonthBill Submitted of
April0
May2000
June0
July0
Aug3000
Sept1000
Oct0
Nov0
Dec0
January4000
February0
March1000
 11000

Calculate  Amount Taxable each month for Medical Reimbursement

-a-

MonthBill Submitted ofAMOUNT RECEIVEDEXEMPTTAXABLE
April01250 0
May20001250 0
June01250 0
July01250 0
Aug30001250 0
Sept10001250 0
Oct01250 0
Nov01250 0
Dec01250 0
January40001250 0
February01250 0
March10001250 4000
Total110001500004000

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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com.
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