My doubt is that whether an employee of nationalised bank is a govt. employee ?
Also for the purpose of leave encashment exemption (after retirement) can they can be considered as government employee?
In the case of government employees, the entire amount paid towards leave encashment (at the time of retirement) is not taxable. But the same is not applicable for other individuals be it employees in quasi government organisations, public sector undertakings, banks, insurance companies and those in the private sector.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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