I resigned from my previous employer and joined to the new employer.
i get a leave encashment from my previous employer rs. 8000 u/s 10(10AA) in to my form 16.
but employer updated into 26AS / AIS my salary income 32000 including 8000.
so can i take exemption into my gross total salary income or not.
kindly advice
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Cash equivalent of leave salary encashment u/s 10(10AA)
Replies (1)
Summary: If you received the encashment at the time of resignation, it is partially exempt under Section 10(10AA). You should report the full amount in your gross salary in your ITR but claim the exempt portion under the "Allowances exempt under Section 10" section to reduce your taxable income. If it was received during your active service, it is fully taxable.
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