is Leave Encashment is taxable for private employee?
This query is : Resolved
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
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
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.
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
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
08 October 2008
Leave encashment exemption as per IT Act is not applicable for resigned employee. please clarify?
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