Leave Encashment Exemption
This query is : Resolved
17 October 2008
If an employee leave a company after due resignation & he have balance leave in his account & eligible for leave encashment, whether the company can pay him the Leave encashment availing the exemption under section 10AA?
From reading of section 10 AA it seems that exemption available only at the time of Retirement. Please guide.
From reading of section 10 AA it seems that exemption available only at the time of Retirement. Please guide.
17 October 2008
The leave encashment otherwise than on retirement is taxable.
17 October 2008
u have read rightly
18 October 2008
But now what should we do with the employee?
Should we give him exemption or not?
Should we give him exemption or not?
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