Leave encashment for recently retired govt employee

Eng

29 Points Posted on 11 August 2018

Hi,

My uncle retired on January 18. He received some leave encashment. I have a two part question.

1. What's the taxation on income from leave encashment during retirement? -- I read that psu has limit but for a fully govt employee, there is no tax

2.Which section to declare in ITR-1 the leave encashment amount?

Replies (3)

5751 Points Posted on 11 August 2018

leave encashment received by government employees on retirement is fully exempted . you can show it under exempted income in the ITR

"Do the Right Thing...!!!"

77792 Points Posted on 11 August 2018

Yes... I agreed to Mr Rama Krishnan.

Eng

29 Points Posted on 11 August 2018

Thanks for the reply.. Section will be ? I see B1.V under deduction??

Your are not logged in . Please login to post replies

Click here to Login / Register

Recent Topics :