Is leave encashment is taxable as Per IT act.
This query is : Resolved
10 October 2008
Can you calculate for me how much i will exempt from tthis leave encashment as per Income Tax act 1961.
Leave Encahment: Rs 5133
earnd leave credited for 9 month : 11 day
average salary 14000
Earlir exemption taken nil
Period of service : 9 month
reason for leving :resignation
Leave Encahment: Rs 5133
earnd leave credited for 9 month : 11 day
average salary 14000
Earlir exemption taken nil
Period of service : 9 month
reason for leving :resignation
10 October 2008
You were suppose to mention here whether u belonged to govt or non govt organization.
Assuming you as non govt employee ,being least as per proviosions ,Rs.5133 is exempt in your case
Assuming you as non govt employee ,being least as per proviosions ,Rs.5133 is exempt in your case
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