Taxablity of leave encashment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2011
Dear Sir,
Pls explain me provision for Taxablity of leave encashment received during employment.
Thanks:
Raj
Pls explain me provision for Taxablity of leave encashment received during employment.
Thanks:
Raj
14 December 2011
Encashed leave salary during employment would be fully taxable.
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2011
Thanks Aditya,
It Means while issuing form 16 to Employee we have to club the Leave Encashment amount with gross salary & deduct TDS as per applicable Slab i.e 10%, 20%. & 30% respectively.
Thanks
Raj
It Means while issuing form 16 to Employee we have to club the Leave Encashment amount with gross salary & deduct TDS as per applicable Slab i.e 10%, 20%. & 30% respectively.
Thanks
Raj
14 December 2011
it is fully taxable. however you can claim relief under section 89.
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