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Leave encashment taxable limit

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2012 Dear Expert,
One of our employees resigned from the organisation.(Age-45). His Full & Final Settlement Salary include Leave Encashment payable of Rs. 4,78,691. Pl confirm what is the limit of Leave Encashment Taxable or Exempt from Tax.

Thanks in Advance.
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Amol S Joglekar

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Amol S Joglekar (Expert)
02 August 2012 For govt employees it is fully exempt. For non govt employees a limit is prescribed. Please refer the limit in the Act.
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