Leave encashment taxable limit
This query is : Resolved
Querist : Anonymous
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.
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.
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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