06 October 2008
Can you calculate for me how much i will exempt from tthis leave encashment as per Income Tax act 1961.
Leave Encahment: Rs 5133 earnd leave credited for 9 month : 11 day average salary 14000 Earlir exemption taken nil Period of service : 9 month reason for leving :resignation
07 October 2008
THe calculation of Leave encashment is based on the applicability of Factories Act and payment of wages Act and your own standing order to your concern. It is taxable in the hands of the recipient unless in the cases of retirement.
07 October 2008
Can you calculate for me how much i will exempt from tthis leave encashment as per Income Tax act 1961.
Leave Encahment: Rs 5133 earnd leave credited for 9 month : 11 day average salary 14000 Earlir exemption taken nil Period of service : 9 month reason for leving :resignation
CAclubindia
