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Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Premium towards leave encashment - provision for leave ...

Income Tax

August 5, 2015

Premium towards leave encashment - provision for leave encashment was held to be allowable if the same was based on a particular scheme proportionately with the entitlements earned by the employees - AT

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  1. Provision for leave salary encashment and gratuity was made by the assessee on the basis of actuarial valuation done by actuary and these are considered as ascertained...

  2. Computation of MAT u/s 115JB - Addition towards delayed payment of gratuity and leave encashment - in computation of book profit only provision for unascertained...

  3. Disallowance of the provisions made for leave encashment - Post 01.04.2001, deduction of any sum on account of payment towards employees leave encashment would be...

  4. Disallowance of provision for gratuity and leave encashment - in case of trust, the meaning ‘applied’ need not be construed as ‘spent’. It includes the necessary...

  5. Exemption limited increased to Rs. 25,00,000 against Leave encashment by the employees other than an employee of the Government - Income Tax Notification

  6. Leave encashment - whether not an ascertained liability and thus liable to be added to the “book profit” under explanation 1 to Section 115 JB - MAT - Held no - HC

  7. TDS u/s 192 - exemption towards leave encashment - There is no reason for them to think that its estimate of employee’s income under the head “Salaries” was incorrect as...

  8. MAT - Disallowance to computation of book profit u/s 115JB - Disallowance of leave encashment as unascertained liability - as the provision for leave encashment has been...

  9. Levy of service tax - tolerance of act of cancellation of coal blocks - the Government employee has tolerated the non-sanction of leave during his service as per an...

  10. Refund of CENVAT Credit towards AED (T&TA) credit - export of production about 92%, under bond - the encashment of AED (T&TA) credit has been correctly denied by the...

 

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