Hi,
I have recd Rs 22181.82 as leave encashment (Earned leave) for FY10-11. as per company rules any leaves in excess of a limit get encashed automatically at end of FY. In form 16 issued by employer its shown taxable but somewhere I read its non taxable, can you please clarify Urgently as i am abut to fill ITR 1 and not sure to deduct it under section10 or someother section , pl mention the rule, section.
leave encashment received during job is 100% taxable...no exemption is available !!
During the job.
Then its fully taxable..............
| Originally posted by : Vijay Manwani (Vicky) | ||
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Then its fully taxable.............. |
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agree,..
CAclubindia
