leaving time tax on leave encashment

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..... leaving time tax on leave encashment
Query (Issue) Started By: - udit gupta Dated:- 21-10-2010 Last Reply Date:- 22-10-2010 Income Tax
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Income Tax
Dear Sir, Please suggest me .....

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..... :- Q:- What will be tax if Ramesh leaving company on Dated 10.10.10 and his basic salary of Rs. 3,00,000 and his payable leave is 58 Days then what will be tax calculation. please solve and advice me. .....

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..... Regards Udit Reply By CA Rachit Agarwal: The Reply: Refer Section 10(AA)(ii)- Assumed the above is not Government Employee 1. Leaving the company is on account of retirements, then only exemption .....

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..... s would be available. 2. Not more than 30 days leave should have accrued each year. 3. 58 days salary would be calculated on the basis of 10 months average salary last drawn.
Discussion Forum - .....

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..... Knowledge Sharing .....

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