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)
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 Threads
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
Related Threads
CAclubindia
