SCOPE OF EXEMPTION UNDER SECTION 10(10AA)(ii)
This query is : Resolved
PRABIR NATH
(Querist)
16 December 2008
IS THERE ANY EXEMPTION IN RESPECT OF CASH EQUIVALENT OF EARNED LEAVE AT THE EMPLOYEES CREDIT ONLY AT THE TIME OF RETIREMENT, WHETHER SUCH RETIREMENT IS ON SUPERANNUTION OR OTHERWISE?
SUPPOSE AN EMPLOYEE RESIGNED AFTER ONE YEAR /TWO TEAR/ THREE YEAR & GOT LEAVE ENCASHMENT OF RS 45000/ , IS HE CLAIM FOR EXEMPTION FOR INCOME TAX FROM EMPLOYER.
SUPPOSE AN EMPLOYEE RESIGNED AFTER ONE YEAR /TWO TEAR/ THREE YEAR & GOT LEAVE ENCASHMENT OF RS 45000/ , IS HE CLAIM FOR EXEMPTION FOR INCOME TAX FROM EMPLOYER.
17 December 2008
For Govt employees, whole amount is exempt.For others, exemption limit is Rs 3 Lacs subject to conditions as mentioned in Section 10(10AA).
He can claim exemption of leave encashment of Rs 45000/- under this section.
He can claim exemption of leave encashment of Rs 45000/- under this section.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- RCM and same line
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
