Leave encashment - govt. employee
This query is : Resolved
31 July 2014
Good Evening Sir,
My query is related to Leave encashment related to Govt. Employee.
Sir,
My dad was retired 3 years before? He is a senior citizen. Now F.Y 2013-14 he received Leave encashment with Pension. So BMC has deducted Tds of Rs. 10,750/- . So i want to know that Leave encashment would be exempted as well as pension income?
Sir, its my humble request for above query? kindly solve it.
Manmohan ACA, CS
(Expert)
31 July 2014
Any amount Received as Leave encashment after retirement by a government employee* is exempted to the extent as mentioned in section 10(10AA) of IT Act,1961.
.
.
.
.
Here Government Employee means and includes ____(i) Central Government Employees
____(ii) State Government Employees
Hence Amount Received from BMC being a Local Authority is not eligible for exemption and hence taxable.
(**Source : V K Singhaniya )
.
.
.
.
Here Government Employee means and includes ____(i) Central Government Employees
____(ii) State Government Employees
Hence Amount Received from BMC being a Local Authority is not eligible for exemption and hence taxable.
(**Source : V K Singhaniya )
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