This discussion addresses two common tax queries. Firstly, it explains how to correctly enter negative values for intraday losses in ITR 3. Secondly, it clarifies that leave encashment up to Rs. 25 lacs is tax-exempt, addressing concerns about its taxability and filing process.
1. I have intraday loss & when I try to enter it in speculative business in ITR 3, it was not taking negative sign. How to enter negative sign ? 2. My brother worked in his ex company from 2018 to mid of 2022 & received leave encashment of Rs. 5 lacs after resignation. Is the amount taxable ? If it is taxable, is that taxed already as salary or we have to pay while filing and what is the process ?