When an employee of non govt organisation is leaving the company then it is necessary for employer to calculate the tax exemption amt u/s 10(10AA) and after giving this exemption deduct tax on leave incash amount......or company can directly deduct the amount from leave incash according to slab and then employee can claim exemption
04 June 2010
We need to calcualte the exemption limit u/s.10(10AA) after allowing the exemption you need to add the taxable portion as income and deduct tax according to the tax slab
CAclubindia
