Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement u/s 10(10AA)(ii) - S.O.553(E) - Income Tax

Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement u/s 10(10AA)(ii) NOTIFICATION NO. S.O.553(E) DATED 8-6-1988 In exercise of the powers conferred by sub-clause ( ii ) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement whether on superannuation or otherwise, hereby specifies the amount mentioned in column (2) of the Table below as the limit in relation to employees mentioned in that sub-clause who retire, whether on superannuation or otherwise, within the period mentioned in the corresponding entry in column (3) of the said Table : TABLE Sl. No Amount(Rs.) Period of retirement (1) (2) (3) 1. 73,400 1st July, 1986 to 31st December, 1986. 2. 75,600 1st January, 1987 to 30th June, 1987. 3. 77,760 1st July, 1987 to 31st December, 1987. 4. 79,920 1st January, 1988 onwards