JAYAKUMAR.M.G (PARTNER) (328 Points)
10 June 2021Hi Experts
Kindly advice whether an Employee of a Primary Agricultural Credit Society in Kerala eligible for claiming Exemption of leave encasement at the time of retirement Rs 5.00,000( Five Lakhs) applicable for Government employees in view of the fact that they are following Kerala Service Rules applicable to State Government employees
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 10 June 2021
I think employees of PACS are not treated as govt employees. Hence, leave encashment (at the time of retirement) of up to Rs.3 lacs can be claimed as exemption u/s 10(10AA)(ii) as applicable to non-govt employees.
veerendar singh
(tax consultant)
(3301 Points)
Replied 10 June 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 10 June 2021
JAYAKUMAR.M.G
(PARTNER)
(328 Points)
Replied 11 June 2021
Thank you Very much.I am also the same view
CAclubindia
