Menu
Arrears encashment
Bank employee received arrears of leave encashment after retirement.what is the treatment as per income tax law?Can he take exemption this year?
Replies (4)
Quick Summary
Yes, The exemption is based on the calculation specified in Section 10(10AA)(ii). Maximum limit is Rs. 25Lakhs.
He had taken exemption 3 lakhs last year on retirement.He received arrear on leave encashment this year.Now limit is 25 lakhs so again can he take exemption?
No. When he retired the limit was 3 lakhs; additional is taxable.
Taxable
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
