Whether leave encashment received to state government employees after retirement is exempt complety ?
ANAND GIRIDHARI CHANDAK (Practice) (203 Points)
06 March 2017Whether leave encashment received to state government employees after retirement is exempt complety ?
Saikrishnan S
(Chartered accountant - Plintron)
(186 Points)
Replied 06 March 2017
Yes, the entire amount received by the employee pertaining to leave encashment after retiring is exempt.
https://incometaxindia.gov.in/pages/acts/income-tax-act.aspx
Refer clause 1 of subsection 10AA of section 10 in the above link.
ANAND GIRIDHARI CHANDAK
(Practice)
(203 Points)
Replied 06 March 2017
One of our fellow member filed IT retuns showing it as taxable income. Can we revised ITR if it is within due date?
Shailesh Prajapati
(Service)
(911 Points)
Replied 07 March 2017
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