Leave Encashment
This query is : Resolved
21 April 2009
Can leave encashment carry forward to the next year?
What are the applicabilities for leave encashment to a concern?
What are the applicabilities for leave encashment to a concern?
21 April 2009
Leave encashment is normally made at the time of Retirement or Leaving of the service from present employer or incase of death.
Indeed the credit of leave can be carried forward to next year if the employee wishes so. However while making encashment one must remember the Max limit of amount that can be exempt under the IT Act. The max amount that can be claimed as exempt gets reduced by the earlier exemption availed by the assesee.
Please elaborate the question regarding the "leave encashment to a concern".
Indeed the credit of leave can be carried forward to next year if the employee wishes so. However while making encashment one must remember the Max limit of amount that can be exempt under the IT Act. The max amount that can be claimed as exempt gets reduced by the earlier exemption availed by the assesee.
Please elaborate the question regarding the "leave encashment to a concern".
21 April 2009
Yes, it can be C/f
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