Calculation of relief u/s 89
This query is : Resolved
27 December 2011
How to calculate relief u/s 89 for leave encashment money received during continuation of service?
29 December 2011
you have to deduct tds on leave salary paid during service as it is treated as a part of salary.while paying leave salary you should deduct 10.3% of it to be in safer side.
The amount received from any leave encashed while you are still in service is added to your income, and is fully taxable. It is taxed as per the income tax slab applicable to you.
The amount received from any leave encashed while you are still in service is added to your income, and is fully taxable. It is taxed as per the income tax slab applicable to you.
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