Medical Reimbursement Taxable from F.Y 2018-19 onward.

 

 DOWNLOAD AND TRY

Q1

     
Basic Salary 40000 pm
 Medical Reimbursement 1250 pm

'There is no policy to collect Bills

Calculate  Amount Received,Exempt and Taxable

View Answer

For F.Y 2017-18 If Medical Bills Submitted, then

From April-Feb  -Fully Exempt

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

Medical Reimbursement Taxable from F.Y 2018-19 onward.

 

Q2

   
Basic Salary 30000 pm
 Medical Allowance) 1250  pm
There is policy to collect Bills in Company  
Employee submits bill as follows  
Month Bill Submitted of
April 0
May 2000
June 0
July 0
Aug 3000
Sept 1000
Oct 0
Nov 0
Dec 0
January 4000
February 0
March 1000
  11000

Calculate  Amount Taxable each month for Medical Reimbursement

View Answer

From F.Y 2018-19

 

Month Bill Submitted of AMOUNT RECEIVED EXEMPT TAXABLE
April 0 1250   1250
May 2000 1250   1250
June 0 1250   1250
July 0 1250   1250
Aug 3000 1250   1250
Sept 1000 1250   1250
Oct 0 1250   1250
Nov 0 1250   1250
Dec 0 1250   1250
January 4000 1250   1250
February 0 1250   1250
March 1000 1250   1250
Total 11000 15000 0 15000
  1. Tax Practical
  2. Practical Payroll (TDS Salary,PF,ESI)
Ask Download

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 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
Jail