Income Tax-Leave encashment
This query is : Resolved
Querist : Anonymous
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
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
24 January 2011
retirement includes resignation then he can claim exemption
Message likes :
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Querist : Anonymous
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
Thanks & Regards
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