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Leave Encashment in ITR
Sir, A employee of Punjab National Bank have got leave Encashment, how I show in ITR-1, it is exampted ? it will be added to salary? pls.
Replies (5)
Whether he received the amount during actively employed or on retirement?
If after retirement, it is tax exempt as per sec. 10(10AA), subject to limit specified there in.
Sir, he active employee and received in bank, it will be added with main salary
Yes, Correct.......
Thank you Sir
You are welcome.
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