Income Tax Exemption for leave encashed by a Bank officer on voluntary retirement

sneha 1
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I took voluntary retirement from Syndicate Bank (Nationalised Bank)in June 2011. For the purpose of exemption of tax on leave encashment will i be considered as Govt. employee or a Non- Govt employee ? i will be thankful for the clarification you would give me.

bank-employee leave-encashment tax-exemption income-tax
1 Answers

Bank employees don't fall under Govt employee segment and leave encashment would be exempted only upto Rs 3 lakh.

Pankaj Batra5212
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