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leave encashment

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(Querist)
07 February 2011 if leave encashment received during the service period to an employee of PSU

it is taxable or not
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K V Subba Rao

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K V Subba Rao (Expert)
07 February 2011 Yes-Taxable. There is no ambiguity in this respect
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
07 February 2011 During the continuance of service ,leave encashment is always taxable.
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CA Jeen paul

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CA Jeen paul (Expert)
07 February 2011 taxable and the term salary is defined to include "any payment recieved by an employee while in service in respect of any period of leave not availed by him:

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