Property transactions may result in hefty tax liabilities.... But one can Save tax on such transactions......Tax Talk-My weekly column- Readable format accessible at http://ssrpn.com/article-details.php?id=1398
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Shakespeare may be wrong when he said Whats there in the name ?.... . Tax Talk- My weekly column
TAX TALK-14.03.2016-THE HITAVADA TAX TALK CA. NARESH JAKHOTIA Chartered Accountant Medical reimbursement for treatment in approved private hospital is tax free Query 1] 1. Whether medical reimbursement received by employee is taxable or not? If tax free, do we need to submit the bills for the same or keep the records with us for claiming the deduction? Whether medical allowance is same as medical reimbursement? [LK, Raipur] 2. A member of our family underwent a surgery at Hyderabad. The hospital expenses were Rs. 4.30 Lacs. Also the patient was uninsured. Patients' spouse is a government employee and fall under 30% tax slab. Under Government scheme the spouse applied for medical reimbursement. If the above said amount is reimbursed, then is that amount taxable? [ aman.agnihotri333@gmail.com ] Opinion : Income Tax treatment in case of salaried person who are provided with medical benefit: “What's...