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Priviledge Leave Encashment

This query is : Resolved 

29 November 2021 Bank Employee at the time of retirement received Rs.7 Lakhs towards Priviledge Leave Encashment

My question is whether Bank employee comes under Central Government and full Rs.7 Lakhs would be exempt u/s 10(10AA) of The I T Act

29 November 2021 NO. BANK EMPLOYEES ARE NOT GOVERNMENTAL EMPLOYEES, EVEN IF THE BANKS ARE NATIONALIZED.



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