Thursday, May 10, 2012

Check out: Medical benefits that aren't taxable

There are several medical benefits offered by employers and one of the first things people want to see individual features that are good on this front. Once this is done then the other aspect of the tax comes into the picture because some of the benefits may be considered taxable under the head of fringe benefits and so there may be an additional liability that may result are.
This is something that the individual would not want as it would increase their burden. Here are some conditions to the medical facilities provided by an employer would not be considered as a Perquisite and will therefore remain outside of the taxable income of the individual.
hospital
If medical facilities are included in a hospital owned or operated by the employer will not be considered an advantage at the expense of tax. There are two important points here that need attention and that is that the hospital must be owned by the employer or the other condition is that it must be maintained by the employer. If this happens then there is not much to worry about and the individual finds that the costs incurred for the treatment has no tax consequences.
government hospital
In many cases there are certain rules and regulations regarding the treatment of the employee. In such a position in which the establishment by the employer in a government hospital or a hospital that is approved will be done in a number of specific conditions are met by the hospital, the amount not chargeable to tax. This may seem like the hospitals listed here are only one category of hospitals, but this is not true because even a private hospital by the government recommended for the treatment of officials would be advantage. So an employee receives such treatment in a private hospital and the amount is paid by the employer would not be charged to tax.



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