Leave Encashment

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20 January 2010 Sir , I want to know whether Leave encashment received by legal heirs of deceased employee is chargeable to tax in the hands of recipient and if it is taxable under which head??

CA Prashant Gupta

CA Prashant Gupta (Expert)
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20 January 2010 Salary paid to the legal heirs of a deceased employee in respect of privilege leave standing to the credit of such employee at the time of his/her death is not taxable as salary Circular Letter No F. 35/1/65-IT(B) dated 5 Novemeber, 1965.
I couldn't find any other head claming this income So by my point of view it is not taxable in hands of legal heirs

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 January 2010 Leave salary to the legal heirs of deceased employee exempted from tax

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