Leave encashment

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Gandla Lokesh

Gandla Lokesh (Querist)
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04 July 2013 hi sir, what is the defination of leave encashment and what basis it is taxable sir ?

Rupesh Jain

Rupesh Jain (Expert)
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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

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