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Leave encashment arrear post retirement
on receipt of leave encashment (after retirement) arrears due to salary revision in subsequent assessment year to retirement; at the time of retirement leave encashment received was accounted after exemption under sec 10(10AA) - (Rs 3 lacs) exemption as Non Govt servant; Now since hte arrear of leave encashment is received in subsequent assessment year, whether once again the exemtion of leave encashment under sec 10(10AA) can be availed for this year also?
Replies (3)
Quick Summary
You cant take exemption again if you had exhausted the limit in previous year
Yes you can avail exemption
immediately on retirement, exemption of Rs 3 lacs for leave encashment was availed as Non Govt salaried person;
in subsequent year, on retrospective wage revision, further leave encashment arrear received; In such a case,
pl clarify whether the exemption of another Rs 3 lacs additionally can be availed for the current year also, in addition to the exemption of Rs 3 lacs availed once immediately after retirement
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