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Showing posts with label Fixed Medial Allowance. Show all posts
Showing posts with label Fixed Medial Allowance. Show all posts

Fixed Medial Allowance from employer, is it taxable?

 Fixed Medial Allowance from employer, is it taxable?

I am receiving Fixed Medial Allowance from my employer. Will it be taxable?

Yes, the fixed medical allowance whenever paid to any employee on monthly basis. As it is fixed medical allowance, the employee is not asked for producing the bills of expenses over medicines and medical treatments. It is considered that it is an income in the hands of employee. Therefore, the fixed medical allowance is completely taxable in the hands of an employee. It will be considered as ‘Income under head of Salaries’. While deducting TDS, the employer will consider it an income of the employee.

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