is Leave Encashment is taxable for private employee?

This query is : Resolved

VIKASH BHALOTIA (Querist)
Follow

06 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

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

07 October 2008 THe calculation of Leave encashment is based on the applicability of Factories Act and payment of wages Act and your own standing order to your concern. It is taxable in the hands of the recipient unless in the cases of retirement.

VIKASH BHALOTIA

VIKASH BHALOTIA (Querist)
Follow

07 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

VIKASH BHALOTIA

VIKASH BHALOTIA (Querist)
Follow

08 October 2008 Leave encashment exemption as per IT Act is not applicable for resigned employee. please clarify?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA. Urmila Mahalwal

Dalbir Singh Wadhera

Rajesh

RAGHUNATH KASIBHOTLA

SARAVANAN PALANISAMY

Subscribe Now

is Leave Encashment is taxable for private employee?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

CA Final

GST CONSULTANT

GST CONSULTANCY