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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.


tarun rustagi

 Somshekar (Rankholder)

Somshekar (Rankholder) (-)     21 July 2010

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

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