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exemption of retirement benefits
if an individual retires from a PSU company then the retirement benefits like gratuity nd leave encashment will be exempt from income tax or not? please give a brief note.
Replies (3)
yes but not full.
exempted amount should be calculated as per sec.10 (10) and sec.10(10AA) of Income tax act 1961...
exempted amount should be calculated as per sec.10 (10) and sec.10(10AA) of Income tax act 1961...
if employer is govt......then fu)ly exempted in the hands of employee.
leave encashment fully exempt in the hands of an employee of the CG or SG.
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