Leave pay encashment -taxable or not

This query is : Resolved

Mahender Jain (Querist)
Follow

02 November 2011 Actually I changed to new company (after working in old company for 5 years) and from old company i got Leave Pay Encashment calculated on basic salary
Now i wana to know that whether this is taxable or tax free

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
Follow

03 November 2011 any Monetory or non monetary benefits recived by assesse is subject to tax....So leave encashment recived from old company will be taxable.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

03 November 2011 Cash equivalent of leave salary is exempt subject to certain conditions and limits explained in section 10 (10AA) of the IT Act,1961.

CA Anshu Agarwal

CA Anshu Agarwal (Expert)
Follow

03 November 2011 see the following link for taxability of leave encashment

https://www.caclubindia.com/forum/taxability-of-leave-encashment-174251.asp