Mr.S is salaried Person , Resident Indian.
During the financial year in month of april he received leave encashment of amount say for example 10,000, during time of employment
In month of September, he have taken excess leave due to which 5000 is deducted as Leave Deduction, during time of employment
So, at the end of the day, what will be tax implications? Will 10,000-5000=5000 considered as leave Encashment? Or any other treatments?
CAclubindia
