Easy Office
LCI Learning

Tax treatment of medical leave encashed

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 September 2011 What is the tax treatment for medical leave encashed at the time of taking VRS?
Profile Image

Vivek Mehta (CA, DISA,CS, MBA)

Profile Image

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
19 September 2011 If I am not wrong then the amount received on account of medical leave encashment is 100% taxable...
Profile Image

VISHRUT

Profile Image

VISHRUT (Expert)
19 September 2011 It is correct.. Agreed with expert.
Upgrade to CAclubindia Pro. Subscribe Now!

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 September 2011 But as per Sec 10(10AA), least of following is exempted:
1) amount of leave encashment received
2) 10 months avg salary
3) Rs 3 lacs

Please clarify the issue?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
19 September 2011 Section 10(10AA) squarely applies to medical leave encashment also.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
20 September 2011 please clarify that sec 10(10AA) will apply?

Will medical leave encashment be fully exempt or exempt till Rs 3 lacs?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links