Dear sir,
In our organisation one of the employee has deceased due to cardiac arrest.I want to know whether the salary due paid to the deceased employee who was in service is taxable or not.
Also Leave encashment calculation in case of death of the employee and taxability of the same.
Thanks and Regards,
Rao
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Salary paid to the wife after death of the employee in the organization
Replies (1)
As per circular no. 573 dated 21.08.1990 of the Income tax act, any lumpsum payment made gratuitously or by way compensation or otherwise by employers to the widow or legal heirs of the deceased employee shall not be considered as an income and hence, not taxable. further, leave encashment of the deceased also shall not be taxable.
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