Hi,
During FY 2014-15, I resigned from my previous firm and joined a new firm. I received an amount of Rs.52,000 as Leave encashment from my ex-employer. But in Form 16, my ex-employer has not shown this amount as tax free.
My query:
1) Can I claim tax deduction on this Leave Encashment while filing my IT returns, even though employer has not shown this as tax deductible in Form 16?
2) Which Section to claim it under? I read online, but am confused whether to claim under Section 10 (10AA) or under Section 89(1). Please advise.
Regards,
Vaibhav
CAclubindia
