Does a bank employee is eligible for exemption for leave encashment at the time of retirement?
if not, how much limit. please clear
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Exemption for Leave Encashment
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20 lkh
Leave cash encashment received by Central Govt bank employees are fully exempt.
300000 rupees upto exempt
300000 rupees upto exempt
| Originally posted by : Vijay Sain | ||
 |
Does a bank employee is eligible for exemption for leave encashment at the time of retirement?if not, how much limit. please clear |  |
Since, bank employees are not government employees, leave salary up to Rs.3 lacs is exempt, at the time of retirement/leaving job. Refer section 10(10AA) for more details.
Yes Agree with both
Whether the employe is in a government or private bank
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