Posted in Finance , Income Tax , India. As per section 10 10AA of income tax in india, leave encashment amount received by employee by a previous employer in full and final statement, is non-taxable. So If you have changed a job in financial year and received leave encashment for the remaining earned leaves ELs Just deduct the amount from total income and compute the income tax on top of that. In case of other employees, the exemption is to be limited to minimum of all below: The actual amount received 2.

The cash equivalent of leave balance max 30 days per year of service 3. Maximum of 10 months of leave encashment, based on last 10 months average salary 4.

File Income Tax Return Online No need to submit LTA proofs to employer Check TDS deduction, income tax refund Online How to Save Long Term Capital Gains Tax LTCG Income Tax E-filing and its benefits. By Pankaj Batra — August 7, Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.

Sir, Please tell me our SBI employee got rs as leave encashment on retirement whether it taxable or not?? How much amount will liable for tax?? Sir I am government emplyee i got rupees as earned and unearned leave salary , how i will tax or free. Dear Sir, I retired from PNB bank service after 38 yrs of Service.

Leave Encashment: Tax Computation of Amount Exempted

Leave days encashed if exempted from ITax. Hi Sir, My father got retired as a central govt employee. And I just have a question regarding leave encashment is it taxable or non taxable. Leave a Reply Cancel Some HTML is OK.

Email required, but never shared. Notify me of followup comments via e-mail. Proudly powered by WordPress and Carrington.

The content is copyrighted to Pankaj Batra and may not be reproduced on other websites. Home Income Tax Calculator Ask A Question About Me Testimonials Photography Downloads Useful Links Online shopping Contact Me Services Donate. Leave encashment non taxable comments Posted in Finance , Income Tax , India.

Leave encashment non taxable | Income Tax Calculations

Sapan singh says Sir, Please tell me our SBI employee got rs as leave encashment on retirement whether it taxable or not?? December 15, , January 1, , 9: January 19, , 5: Rathanam says Sir I am government emplyee i got rupees as earned and unearned leave salary , how i will tax or free.

January 21, , 8: SL Dhiman says Dear Sir, I retired from PNB bank service after 38 yrs of Service. March 3, , 1: Palak says Hi Sir, My father got retired as a central govt employee.

March 5, , 3: Prakash says Leave encasement Above 3 Lakh How much tax Rate Applicable. April 20, , Click here to Ask now!

Leave a Reply Cancel Some HTML is OK Name required Email required, but never shared Web or, reply to this post via trackback. Sign up for our email newsletter: Most Downloaded Income Tax Calculator for financial year Recent Posts Natives and Expatriates guide to Systematic Investment Plan SIP The finer points of Health Insurance and why you need it Open Letter to Narendra Modi Never too late to buy a life insurance plan Do you need a critical illness insurance.

Categories Education Finance Home Loan Income Tax Insurance Investment Mutual Funds India Government News Travel.