banner_ad

SECTION 10(10AA) applicable to PSU employee

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 December 2020 Self retired in Nov'19 from a PSU. Got Rs 5,43 lakh as EL encashment and Rs 11.38 lakh as HPL encashment. Recently I came across a msg from CA I. M. Agrawal that CBDT has addressed the anomaly of exemption limit upto Rs 3 lakh and now the encashments are fully exempt without limit as was already applicable to CG employees..
Pl. guide whether now encashment is fully exempt and also whether it is only EL or EL+HPL?
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
29 December 2020 Earned Leave encashment is fully exempt only for Direct employees of Central and State Government (If received after retirement or superannuation). ... For the purpose of income tax, PSU is not considered as government employer. Accordingly, you will get exemption only Upto 3 lacs(EL+HPL).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details