Leave encashment on resignation within one year of joining
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2013
Dear Sir,
if an employee resigns or expelled within a year of joining, what should be tax implication
1. should we deduct TDS on leave encashment
2. would relief of Sec. 89 be allowed.
3. in case TDS is deductible which employer has to deduct current employer or previos employer
if an employee resigns or expelled within a year of joining, what should be tax implication
1. should we deduct TDS on leave encashment
2. would relief of Sec. 89 be allowed.
3. in case TDS is deductible which employer has to deduct current employer or previos employer
31 August 2013
Hi
Leave encashment is exmpt subject to max. amt payable Rs. 3lac for life time of employees employment.
TDS to be deducted by present employer on salaries paid to employee.
Thanks
Leave encashment is exmpt subject to max. amt payable Rs. 3lac for life time of employees employment.
TDS to be deducted by present employer on salaries paid to employee.
Thanks
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2013
how can current employer get conclusion if 3 lac is crossed or not that limit of 3 lacs crossed before joining current organization
31 August 2013
you can get a declaration signed by employee declaring NIL Leave encashment claimed by him or actual amount claimed till date.
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