Leave encashment
This query is : Resolved
25 January 2010
Hi
Is the leave encashment exempt on Basic Salary or CTC at the time retirement/reginantion.
R
Is the leave encashment exempt on Basic Salary or CTC at the time retirement/reginantion.
R
25 January 2010
No, it is exempted as per least of the following
1.Actual leave encashment received
2.10 months avg, salary immediately preceeding his retirment
3.Rs.300000
If leave encashment received during the retirement from govt. service - Not taxable
1.Actual leave encashment received
2.10 months avg, salary immediately preceeding his retirment
3.Rs.300000
If leave encashment received during the retirement from govt. service - Not taxable
25 January 2010
one more condition i.e. 4th condition
period of earned leave in months x Avg monnthly salary
for this period take 30 days of every completed year of service. deduct the leaves he has availed. now change rest in months.
minimum of these four (3 mentioned by Mr. Ramesh Krishnan) is exemption for non-govt employees
period of earned leave in months x Avg monnthly salary
for this period take 30 days of every completed year of service. deduct the leaves he has availed. now change rest in months.
minimum of these four (3 mentioned by Mr. Ramesh Krishnan) is exemption for non-govt employees
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
