Leave Encashment in ITR

10 July 2024

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.

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194305 Points)
Replied 10 July 2024

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.

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Tapas Samadder (538 Points)
Replied 10 July 2024

Sir, he active employee and received in bank, it will be added with main salary

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194305 Points)
Replied 10 July 2024

Yes, Correct.......

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Tapas Samadder (538 Points)
Replied 10 July 2024

Thank you Sir

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194305 Points)
Replied 10 July 2024

You are welcome.

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