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
Menu
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.
Recent Topic
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
- Form 121 eligibility for non deduction of TDS for
- Gold/silver etf. STCG. how to decalre in ITR at s
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
Related Topics
CAclubindia
