Maximum exemption in respect of leave salary receivable by employees of Central Government as specified in the Table u/s 10(10AA)(ii) - S.O.249(E) - Income Tax

Maximum exemption in respect of leave salary receivable by employees of Central Government as specified in the Table u/s 10(10AA)(ii) NOTIFICATION NO. S.O.249 ( E ) DATED 26-3-1996 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 to 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 (3) 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 (2) of the said Table : TABLE Sl. No. Period of retirement Amount (Rupees) 1. 1-4-1995 to 30-6-1995 1,30,320 2. 1-7-1995 onwards 1,35,360 [Notification No. 10043/F. No. 200/106/95-ITA-I]