Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

veenit (team lead)     21 July 2010

Tax on Leave Encashment amount after resign

Dear Sir/Madam,

 I have receved the Amount for leave encashment  47771(31 days) from my previous employer after I resigned from the job.

Just wanted to know is this amount eligible from total taxable income.If yes then under which section of income tax rules.

Please clarify.

 



 2 Replies

DT Fundas - Tarun rustagi

DT Fundas - Tarun rustagi ( Author)     21 July 2010

dear veenit

leave salary amount is taxable but u can claim exemption under sec. 10(10AA).after this it will be included in total income.

regards

tarun rustagi

 Somshekar (Rankholder)

Somshekar (Rankholder) (-)     21 July 2010

section 10 (10AA) covers retirement and resignation. you can claim exemption upto 300000


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags