05 November 2014
Whether leave encashment is wholly exempt from tax if an employee of an Indian company leaves the job and moves to out of India for another job? Or least of the following shall be exempted:- - Leave encashment actually received - 10 months “average salary” - Cash equivalent of unavailed leave calculated on the basis of maximum 30 days leave for every year of completed service. - Amount specified by the Govt i.e. Rs. 3,00,000 Thanks
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