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Leave encashment exemption in salary

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Advocate
180 Points Posted on 11 July 2024
sir, my relatives retire from bank in 2023-24 and received Rs 1000000 as leave encashment. My question is that the fully amount will exempt in his hand or partially taxable.
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On 11 July 2024 at 06:19 Report
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SEO Sai Gr. Hosp.
211715 Points Posted on 11 July 2024

The exemption is based on the calculation specified in Section 10(10AA)(ii).  Maximum limit is Rs. 25Lakhs.

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On 11 July 2024 at 09:21


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