Dibyendu Kumar Majumder (42 Points)
09 September 2020
Deepak Gupta
(CA Student)
(15922 Points)
Replied 09 September 2020
PSU employees are considered as non-government employees.
Hence, not fully exempt. Least of the following is exempt [10(10AA)(ii)]
Note-1: earned leave entitlements cannot exceed 30 days for each completed year of service ignore fraction
Note-2: Average Salary3 of last 10 months immediately preceding the retirement
Note-3: Salary = Basic + DA (if part of retirement benefits) + commission as a fixed percentage of turnover
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 09 September 2020
CAclubindia
