Tax on paid leave during full & final
This query is : Resolved
01 February 2016
Tax on Paid Leave during Full & Final is it exempted or taxable?
01 February 2016
Section 10(AA)(i): In case of government employee leave salary at the time of retirement is fully exempted.
Section 10(AA)(ii) :in case of non-government employee lease salary received by him at the time of his retirement or otherwise is exempted least of the below:
1. Leave salary actually received;
2. 10 months average salary;
3. Amount specified by the government;
4. leave entitlement of 30 days for every year of actual service
Note: Leave salary received during the employment is taxable in the hands of both Government as well as non-government employees.
Section 10(AA)(ii) :in case of non-government employee lease salary received by him at the time of his retirement or otherwise is exempted least of the below:
1. Leave salary actually received;
2. 10 months average salary;
3. Amount specified by the government;
4. leave entitlement of 30 days for every year of actual service
Note: Leave salary received during the employment is taxable in the hands of both Government as well as non-government employees.
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