Leave encash

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tax consultant
21 Points Posted on 22 June 2021
if state government employee receives leave encashment after retirement rs 700000 is exempt u/s 10 please quide
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On 22 June 2021 at 22:46 Report
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Quick Summary
Government employees can receive tax exemption on their leave encashment upon retirement under Section 10(10AA)(i) of the Income Tax Act. While the full amount is exempt for government employees, the exemption is calculated based on specific rules and salary statements, not necessarily the entire sum received.

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Chartered Accountant
24588 Points Posted on 23 June 2021
Leave encashment is exempt for Government employees
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On 23 June 2021 at 09:24
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2 Points Posted on 23 June 2021
Up to a specified limit. Not whole amount.
calculated as per the salary statement.
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On 23 June 2021 at 09:45
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CMA
13117 Points Posted on 23 June 2021

Leave salary received by govt employees at the time of retirement is exempt u/s 10(10AA)(i).

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On 23 June 2021 at 15:55
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Chartered Accountant
24588 Points Posted on 18 July 2021
Full amount is exempt for Government employees
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On 18 July 2021 at 20:23

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