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Leave pay encashment -taxable or not

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(Querist)
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
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CA VISHAL RANA,CS,B.Com,AMFI

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CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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CA Anshu Agarwal

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CA Anshu Agarwal (Expert)
03 November 2011 see the following link for taxability of leave encashment

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

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CA Prashant Gupta (Expert)
03 November 2011 leave encashment is taxable but sec 10 (10AA) provide some condition for exemption.
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