Employee tax
This query is : Resolved
N.Rajendra
(Querist)
25 November 2013
If an employee resigns whether the salary ( Basic, Other Allowances and Leave Encashment) is taxable at the time of Full & Final Settlement.
CA PARAS BAFNA
(Expert)
25 November 2013
The Basic Salary and other allowances are to be treated as if the employee is in service.
.
In case the employee receives leave encashment in respect of accumulated leaves
during his tenure in service, it is exempt to certain extent vide Section 10(10AA).
.
However, if leave is encashed by the employee periodically, it also becomes taxable.
.
.
In case the employee receives leave encashment in respect of accumulated leaves
during his tenure in service, it is exempt to certain extent vide Section 10(10AA).
.
However, if leave is encashed by the employee periodically, it also becomes taxable.
.
N.Rajendra
(Querist)
25 November 2013
Mr. Bafna.
Thank you very much.
Thank you very much.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
