Hiii !!!!
Plz cnfrm whether leave encashment received by legal heirs of deceased employee after availing exemption from amount received from employer is taxable in hands of legal heirs u/h Other Sources. or it is fully exempt in hands of legal heir. plz qoute relevant circular or section..
Thanks in advance!!
i think u r asking about the balance amount of the leave encashment received by the legal heirs after calculating the exemption - answer is yes it is taxable.
Only privilege leave of the deceased employee is exempt from tax . Circular Letter No. f-35/05.11.1965
other than these everything is taxable.
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