Menu
leave encashment
leave encashment is totally exempt
Replies (3)
For
a. govt employees - it is fully exempted
b. Others it is least of
1.amount received
2. 10 months avg salary * 10
3. 3lacs
4. 30 days leave encashment*no of years of service.
a. govt employees - it is fully exempted
b. Others it is least of
1.amount received
2. 10 months avg salary * 10
3. 3lacs
4. 30 days leave encashment*no of years of service.
bank employees will come under govt. employees
1. Bank Employees will be considered as employees of PSU and they shall not be considered as Government Employee for the purpose of IT.
2. Government employees are those employees who directly work for the government. Not in government companies or government controlled entities.
3. Refer Case law Ram Kanwar Rana Vs ITO for further clarification.
Please correct me if the above interpretation has an alternative view.
Recent Topics :
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
Related Topics :
CAclubindia
