My employer provides me with medical allowance of Rs.15000per year which I can claim by submitting bills.
As per the income tax regulations, for tax exemption of medical reimbursement, is it necessary that the medical expenses should be incurred in the same year? Can I submit bill of expenses incurred in the previous years and claim it as tax free in the current year?
How can you claim last years medical bill this year. The bill must be the same year in which year you are claiming the medical allowance. It is very simple.
Yes, Usually Financial year starts from April to March. You can claim medical exception of maximum Rs 15,000 per year. So bill date must lie in respective financial year
yes, compulsorily as per section 10(14) of the IT Act
Yes, it must be of the same financial year.
April 2008 to March 2009 for this year
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