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Q. > Please Help: Leave Encashment
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2411 views • Question added Mar 16, 2019 • Income Tax • By NEHA YADAV , Mathura


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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Riyaz Ahmad

10-Apr-2019 , 12:41:32 pm

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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