Leave encashment limit
This query is : Resolved
09 September 2011
Sir i Want to know about max. limit of leave encashment on voluntary retirement? IS it applicable non govt. co.?
09 September 2011
Leave salary given to Central/State Government employees at the time of retirement /superannuation in respect of period of earned leave at his credit ,is fully exempted.{section 10(10AA)(i)}
https://www.investmentsandmoney.com/2010/08/19/income-tax-exemption-for-leave-encashment/
https://www.investmentsandmoney.com/2010/08/19/income-tax-exemption-for-leave-encashment/
09 September 2011
IN CASE OF VOLUNTARY RETIREMENT AS PER SECTION 10 (10C) RULE 2BA MINIMUM OF :
(1) RS. 5,00,000
(2) LAST DRAWN SALARY X 3 MONTHS X NO. OF
COMPLETED YEAR OF SERVICE . AND
(3)LAST DRAWN SALARY BALANCE OF MONTHS OF
SERVICE LEFT.
(4) ACTUAL RECEIVED .
(1) RS. 5,00,000
(2) LAST DRAWN SALARY X 3 MONTHS X NO. OF
COMPLETED YEAR OF SERVICE . AND
(3)LAST DRAWN SALARY BALANCE OF MONTHS OF
SERVICE LEFT.
(4) ACTUAL RECEIVED .
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