Salary head
This query is : Resolved
15 July 2009
what is the treatment of leaves encashed
15 July 2009
i know about leaves availed
15 July 2009
Is to be treated and taxed as a part of Salary only.
15 July 2009
i want to ask
how we deal with it
when we are calculating leave salary after retirment
how we deal with it
when we are calculating leave salary after retirment
15 July 2009
thanx chandresh for your consideration
but tell me this
but tell me this
Guest
Guest
(Expert)
15 July 2009
Mr. Jain,
Leave encashment is taxable.
Leave can be encash by the following way :
1). As on financial year closing.
2). As on full and final payment (When you left the job)
3). When you get retirement.
Whenever it accured or paid, it'll be treated as taxable.
Leave encashment is taxable.
Leave can be encash by the following way :
1). As on financial year closing.
2). As on full and final payment (When you left the job)
3). When you get retirement.
Whenever it accured or paid, it'll be treated as taxable.
15 July 2009
Leave Encashment encashed other than at the time of retirement is fully taxable.
Leave Encashment received at the time of retirement is taxable subject to following deduction u/s 10(10AA).
1)300000/-
2)Leave Encashment received.
3)10 Month's average salary
4)Leave encashment taking 30 days a year standing to the credit of the employee.
Salary = Basic + DA + Commission.
Leave Encashment received at the time of retirement is taxable subject to following deduction u/s 10(10AA).
1)300000/-
2)Leave Encashment received.
3)10 Month's average salary
4)Leave encashment taking 30 days a year standing to the credit of the employee.
Salary = Basic + DA + Commission.
17 July 2009
nitin i want to ask
how we calculate
4) Leave encashment taking 30 days a year standing to the credit of the employee.
plz help
how we calculate
4) Leave encashment taking 30 days a year standing to the credit of the employee.
plz help
22 July 2009
Take the following example.
A Co. is allowing 45 days per year as a leave.
An Employee has worked for 23 years and availed 90 days during his employment.
So leave standing to his credit will be:
23*30=690-90=600 days i.e 20 months.
If you have further doubts, you can revert back to me.
A Co. is allowing 45 days per year as a leave.
An Employee has worked for 23 years and availed 90 days during his employment.
So leave standing to his credit will be:
23*30=690-90=600 days i.e 20 months.
If you have further doubts, you can revert back to me.
06 August 2009
thanx nitin
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