Leave encashment allowance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2012
Whether Leave encashment is taxabale or not? If so at what limit?
01 April 2012
During the continuance of service, it forms part of the salary and as such becomes taxable.
However, at the time of retirement if leave encashment is received it is exempt to the extent as prescribed U/s 10(10AA).
However, at the time of retirement if leave encashment is received it is exempt to the extent as prescribed U/s 10(10AA).
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