Leave encashment exemption for private sectors employees
This query is : Resolved
Quick Summary
04 July 2024
Will employees of merged company get leave encashment exemption received from merged company.
Is Leave encashment amount taxable which is received from pending leaves which were credited to the employees on last salary pre merger.
Is Leave encashment amount taxable which is received from pending leaves which were credited to the employees on last salary pre merger.
CA R SEETHARAMAN
(Expert)
05 July 2024
It will be considered as leave encashment on retirement/ resignation and exempt from tax upto Rs 25 lacs.
CA Puja Sharma
(Expert)
05 July 2024
Yes, tax exemption upto Rs. 25 Lacs us 10(10AA)(ii) will be available in case of non-government employees.
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