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author's profile photo Former Member
Former Member

medical exemp

For one of the employee medical exemption amount more than 15,000 with in a finnancial year because of he was tranfered from one company to another company(intra company transfer) how to manage that extra amount 1250/-

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 21, 2011 at 05:01 AM

    According to the Income Tax regulations , One Employee can get maximum of Rs 15000 medical Exemption in a financial Year.Even if he changes the Company.I ahve a doubt So how can u exempted him extra 1250 Rs.

    Best Regards,

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 21, 2011 at 06:03 AM

    Hi,

    Check in schema INMED aginst parmeter 1 what is passed, eighter considering IT0582 or Not, after that any Z PCR writeeen for providing exemption.

    If IT0582 is not consider then different tax code used for medical reimbursement and exemption, Exemple Company "A" purpose used "SMED" tax code, and Company "B" purpose used "ZMED". In schema modified in both cases exemption amount passing /3M1through any Z PCR, Even though you maintained in tax exemption limit 15000 per FY, in this case in is the limit 30000 ( SMED+ZMED as per v_t7int9).

    So, check your Medical reimbursement wage type Tax code for both companies, In case is different tax codes maintain you need to build Payroll PCRs.

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