Increase of Medical reimbursement tax rebate limit ( Present Rs 15000 )
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I am an employee working in private limited company . Consistently paying a tax more than 3 lakhs per annum.
Every year i am getting one month basic i.e appx Rs 50000 as medical reimbursement in my salary package . That has to be claimed with with actual spent medical bills for self and dependents.
I live with my wife , two major kids and parents.
I am 54 , my wife 49 and parents above 75 years both are diabetic , insulin base , they need min Rs 7000/ month medicines.
In general i am spending more than 1 lakh for year for self , my wife and my senior citizen parents.
My concern is ,even though i get a reasonable of Rs 50000 in my package , i have to pay tax Rs 10,500 for the amount excess to present limit of Rs 15000.
I am not able to see good logic or meaning in this low limit. I think citizens shall have a right to use their medical limits fully , yes based actual spending.
I managed/carrying this concern for almost last 10 years. Raising now for the befit of people like , if they also feel similar.
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