Hi Friends
Can any one tell me whats Leave encashment and contributions to Superannuation fund and its tax treatment.
Regards
Narayanan
Leave encashment is nothing but receipt of compensation for unavailed leave to the credit of employee. The leave encashment is exempt subject to the provisions of 10(10AA)
Contribution to super annuation fund is the contribution made to a fund by employer for payment of annuity to the employee on his retirement/leaving service. The employer's contribution to approved SA fund is exempt in the hands employee
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