Leave Encashment in ITR

10 July 2024

Sir, A employee of Punjab National Bank have got leave Encashment, how I show in ITR-1, it is exampted ? it will be added to salary? pls.

Reply
Follow
Share

5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177840 Points)
Replied 10 July 2024

Whether he received the amount during actively employed or on retirement?

If after retirement, it is tax exempt as per sec. 10(10AA), subject to limit specified there in.

1 Like

Tapas Samadder (536 Points)
Replied 10 July 2024

Sir, he active employee and received in bank, it will be added with main salary

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177840 Points)
Replied 10 July 2024

Yes, Correct.......

1 Like

Tapas Samadder (536 Points)
Replied 10 July 2024

Thank you Sir

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177840 Points)
Replied 10 July 2024

You are welcome.

1 Like

Start a New Discussion