I resigned from a private company after working for 4 yrs and 11 mths and encashed my leave standing at the credit of Rs.24000 and superannuation of Rs.55000. Kindly help me out for the taxability of these items for the FY 2009-10.
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Incometax on Leave encashment and Superannuation fund
Replies (7)
please clearify the question
1 what is your salary at the time of retairment.
2 leave agaived while in service.
3 amount of leave encashment received.
also give the last 10 month average salary.
Basic Salary at the time of resignation - Rs. 12000 PM and No DA
Leave at the credit at the time oo Resignation 62 Days
Amount of leave encashment Rs.24000
Last 10 Months avg Salary Rs.11000
62 days u have utilise your leave or ya balance of leave
Rs. 21230/- would be exemted and balance Rs. 2770/- is the taxable value and part of the taxable salary.
what is the actual leave avail for a one year of an a employee of small scale industries & trading unit
30 days in a year..
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