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Income Tax-Leave encashment

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 January 2011 Dear Sir/Madam,

Section 10(10AA) of Leave encashment says about the exemption of leave encashment by giving 4 conditions at the time of retirement or superannuation.

Does that means if a person resigns a company after serving 3-4 year and he is age of 35, is not eligible for leave encashment exempltion as he is not taking the retirment/superannuation.

Thanks in advance
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
24 January 2011 retirement includes resignation then he can claim exemption
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2011 But if the company has the policy that all employees can encash their balance leave at end of every year, does in that case also leave encashment will be exempt or it will be taxed.

Thanks & Regards
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