Please Help: Leave Encashment
Posted Date : 16-Mar-2019 , 01:31:58 pm | Posted By: NEHA YADAV
Category :
Income Tax | Answers :
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Comments :
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Sir,
the benefit of section 10AA of the Income Tax Act is available to Govt. undertaking say IOCL or UPPCL or not? |
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| Posted By : Riyaz Ahmad |
10-Apr-2019, 12:41:32 |
| In case State govt. Central Govt Employee Leave encashment fully exempt
In case of any other employee –
Least of the following is exempt:-
-Actual amount received
-3,00,000
-10 months average salary
-Average salary x leaves at the credit of an employee (leaves cannot exceed 30 days for every completed year of service, fraction of a year is to be ignored) |
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