Leave Encashment
This query is : Resolved
31 October 2009
I recently resigned from a company and joined a new company. In my full & final settlement I was paid Leave Encashment for a certain amount.
Can you advise if there are any exemptions in Income Tax for Leave Encashment. If so kindly advise me with the relevant section accordingly.
Thank you in advance.
Can you advise if there are any exemptions in Income Tax for Leave Encashment. If so kindly advise me with the relevant section accordingly.
Thank you in advance.
31 October 2009
no any exemption for leave incashment.
01 November 2009
Exemption is allowed under section 10(10AA) of The Income tax Act,1961 only for the leave encashed at the time of retirement.
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