Leave pay encashment -taxable or not
This query is : Resolved
02 November 2011
Actually I changed to new company (after working in old company for 5 years) and from old company i got Leave Pay Encashment calculated on basic salary
Now i wana to know that whether this is taxable or tax free
Now i wana to know that whether this is taxable or tax free
03 November 2011
any Monetory or non monetary benefits recived by assesse is subject to tax....So leave encashment recived from old company will be taxable.
03 November 2011
Cash equivalent of leave salary is exempt subject to certain conditions and limits explained in section 10 (10AA) of the IT Act,1961.
03 November 2011
see the following link for taxability of leave encashment
https://www.caclubindia.com/forum/taxability-of-leave-encashment-174251.asp
https://www.caclubindia.com/forum/taxability-of-leave-encashment-174251.asp
03 November 2011
leave encashment is taxable but sec 10 (10AA) provide some condition for exemption.
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