Leave Encashment & Income Tax

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chetan soni (Querist)
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29 January 2009 Hi All,

want to know the treatment leave encashment given at the time of resignation of employee as per sec 10(10AA).

Can it considered as "otherwise" as per section 10(10AA)

Please answer fast, i need this very urgently.

Thanks.

K V Subba Rao

K V Subba Rao (Expert)
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29 January 2009 Voluntary retirement is one such case which comes within the four corners of expression "otherwise than superannuation"

Ref: Para 12.1.3 of 31st edition of Singhania's Ready Reckoner

At any stretch of imagination, 'resigntion' cannot be treated as 'retirement'

chetan soni

chetan soni (Querist)
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02 February 2009 but it can be consider as Voluntary retirement from service.

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chetan soni

chetan soni (Querist)
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14 July 2009 closed.