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Leave Encashment Exemption

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(Querist)
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.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
17 October 2008 The leave encashment otherwise than on retirement is taxable.
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CA Anil Jain

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CA Anil Jain (Expert)
17 October 2008 u have read rightly
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Jayesh Jagetiya

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Jayesh Jagetiya (Querist)
18 October 2008 But now what should we do with the employee?
Should we give him exemption or not?
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