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Leave Encashment

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(Querist)
31 October 2009 I recently resigned from a company and joined a new company. In my full & final settlement I was paid Leave Encashment for a certain amount.

Can you advise if there are any exemptions in Income Tax for Leave Encashment. If so kindly advise me with the relevant section accordingly.

Thank you in advance.
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ANIL JANGID

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ANIL JANGID (Expert)
31 October 2009 no any exemption for leave incashment.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
01 November 2009 Exemption is allowed under section 10(10AA) of The Income tax Act,1961 only for the leave encashed at the time of retirement.
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