Menu
Leave encashment
What is the limit of exemption for Leave salary received at the time of retirement of non government employees?
Replies (1)
Leave is exempt ot the following
1.leave salary received
2. 3,00,000.
3. 10 months salary ( based on average salary for last 10 months)
4. cash equivalent (based on average of salary for 10 months immediately preceeding the month of retirement) of leave standing credit to the account of assessee.
No of earned leave in a year does not exceed 30 days. for every year of actual service rendered
salary means basic salary plus DA as provided in terms of employment for retirement purposeplus commission as a percentage of turnover.
1.leave salary received
2. 3,00,000.
3. 10 months salary ( based on average salary for last 10 months)
4. cash equivalent (based on average of salary for 10 months immediately preceeding the month of retirement) of leave standing credit to the account of assessee.
No of earned leave in a year does not exceed 30 days. for every year of actual service rendered
salary means basic salary plus DA as provided in terms of employment for retirement purposeplus commission as a percentage of turnover.
Recent Topics :
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
Related Topics :
CAclubindia
