In salary head, there are many elements. One is medical expenses’ reimbursement. yes, medical expenses are done by employee and bill is paid by employer. In this case, what will be tax implications? Read it in this post. Tax on Medical expenses when bill is paid by employer: First, understand one thing that medical
In this article,I have tried to explain the treatment of leave salary and provident fund in income tax act. Leave salary: when employee receives cash equivalent in respect of earned leave(leave not taken) , it is called leave salary. treatment of leave salary received by government employees and non government employees are different.
Salary has many elements like basic salary, dearness allowance, gratuity, pension, perquisites etc. On each element, tax calculation is different. Here I have tried to explain tax treatment for each element of salary. So let’s take a look. Taxability of salary: Salary is chargeable to tax either on due or receipt basis whichever is