18 May 2010
Hi! can any1 plz tell me if a person does not opt to encash his earned leave and deposit in fund account such as capital gain scheme account etc set up for the purpose.then will he get tax exemption for the same or he has to get it encashed in any way for takinh exemption u/s 10(10AA). plz reply earliest. thanx in advance.
18 May 2010
In my view , there is no provision for such deposit in any Capital Gain scheme or so for getting exemption for leave Encashment. Leave encashment is exempt u/s10(10AA) only in case you encashed it.
CAclubindia
