Hi Experts
Kindly advice whether an Employee of a Primary Agricultural Credit Society in Kerala eligible for claiming Exemption of leave encasement at the time of retirement Rs 5.00,000( Five Lakhs) applicable for Government employees in view of the fact that they are following Kerala Service Rules applicable to State Government employees
I think employees of PACS are not treated as govt employees. Hence, leave encashment (at the time of retirement) of up to Rs.3 lacs can be claimed as exemption u/s 10(10AA)(ii) as applicable to non-govt employees.
Thank you Very much.I am also the same view
Gupta Sachdeva & Co. Chartered Accountants
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