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Leave encashment taxability

Tax queries 635 views 2 replies

Dear all,

I resigned from the company after working their for one year only. At the time of leaving they also gave me salary for my balance leave credit.

I want to know is this leave salary taxable or exempt?

Is there any criteria for minimum service period for claiming exemption?

Kindly quote relevant section/rule numbers.

Replies (2)

It will be taxable if it exceeds Rs. 300,000/- 

 

It is less than 3 lacs, but is there any criteria for minimum service period for claiming exemption?


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