Tag Archives: Leave Encashment Income Tax

Leave Encashement Exemption Limit Increased to Rs 25 Lakh

By | May 25, 2023
0 Comment

Leave Encashement Exemption Limit Increased to Rs 25 Lakh   MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th May, 2023 (INCOME-TAX) S.O. 2276(E).—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… Read More »

Leave Encashment Income Tax Treatment

By | July 5, 2018
0 Comment

Leave Encashment Income Tax Treatment Leave Encashment Income Tax Treatment / Taxation of Leave Encashment Why Leave Encashment is taxable : As per Section 17(1) of Income Tax Act  : (1) “salary” includes— …… —- (va) any payment received by an employee in respect of any period of leave not availed of by him; When Leave Encashment is not taxable   Section… Read More »