Leave encashment
This query is : Resolved
Gandla Lokesh
(Querist)
04 July 2013
hi sir, what is the defination of leave encashment and what basis it is taxable sir ?
Rupesh Jain
(Expert)
04 July 2013
leave salary at time of retirement
is exempt ofr state govt & central Govt.
otherwise above case
1) cash equivalent of 30days for one complete year of service
2) 10 month average salary
3) 300000/-
4) actual received amount
whichever is less
is exempt from tax
is exempt ofr state govt & central Govt.
otherwise above case
1) cash equivalent of 30days for one complete year of service
2) 10 month average salary
3) 300000/-
4) actual received amount
whichever is less
is exempt from tax
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