where leave salary is received in any earlier year from a former employer and again received from another employer in a later year, will the limit of 300,000 will be reduced by the amount of leave salary exempt earlier?
Specified amount of Rs 3,00,000 is the aggregate amount allowed as exemption irrespective of frequency of leave encashment received by employee by various employers.
If an employee has utilised Rs 2,00,000 already at the time of first resignation, he is only entitled to use balance of Rs 1,00,000 for the exemption computation next time.
Hence, overall employee is allowed total exemption of only Rs 3,00,000 with respect to leave encashed from all employers. ------- This is repeat query. Take care not to double post
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