TAX TALK-23.04.2012-THE HITAVADA
TAX TALK-23.04.2012-THE HITAVADA TAX TALK BY CA. NARESH JAKHOTIA (Chartered Accountant) “SECTION 80TTA TO GIVE DEDUCTION OF RS. 10,000/-TOWARDS INTEREST ON SAVING A/C” Query 1] My friend was admitted in the hospital and died almost after 19 days in the hospital, Our Company sanctioned medical reimbursement worth Rs 2.15 Lacs but the audit department deducted Income Tax of almost Rs. 65000/-. Is there any provision to get that back as death claim, his family already spend that money & they got back the amount as reimbursement only. The same is not an income for his family. Deduction of Income tax of Rs 65,000/- is a big amount for that family. Is there any provision to get that amount back from the Income tax department? If so, kindly advise. [ yogesh_vitankar@yahoo.com ] Opinion: 1. The legal provision for taxability of medical expenses reimbursement in respect of medical facilities in India in the hands of employee is as ...