19 June 2014
As you know due to retreachments many employees are laid off.
In July2014 , I was forced to leave my job they paid me the amount of notice period.
I had 172 leaves accumulated from last 4-5 years. my employer paid me leaves payment but deducted the income tax as per 20 % slab.
I has read one case from Pune where High Court has given judgement saying resigning from one job is treated as tired from that company can I claim the TDS BACK?
19 June 2014
you can claim the leave exemption u/s 10(10AA)(I) 1. cash equivalent of leave period (but for one year leave can no exceed 30days) 2. 10 month average salary 3. RS. 300000/- 4. actual amount received
which ever is less '
is exempt for taxation balance amount will include in your salary income. and tax accordingly. for salary = Basic salary +DA for retirement purpose if include+ % commission of sales achived