15 January 2011
The value of leave travel concession provided to an individual and his family by an employer or a former employer in connection with his proceeding on leave to any place in India, or for proceeding to any place in India on retirement or termination of his services. Section 10(5)
FOR MORE INFO LINK IS :- http://www.incometaxindia.gov.in/Pamphlets_Split/EXEMPT%20INCOME.asp