exemption limit on leave in cashment on retirement

what is the limit exemption for leave incash for the year 2011-12

Roshan lal Bhardwaj, Hisar

asked Nov 02 '11 at 16:56 by roshanlal 1●1●1●1

One Answer:

Payment by way of leave encashment received by Central & State Govt. employees at the time of retirement in respect of the period of earned leave at credit is fully exempt.

In case of other employees, the exemption is to be limited to minimum of all below:

The actual amount received
The cash equivalent of leave balance (max 30 days per year of service)
Maximum of 10 months of leave encashment, based on last 10 months average salary
Rs. 3 Lakh

answered Nov 02 '11 at 23:50 by Pankaj Batra 5.2k●3●20

link

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

*italic* or __italic__
**bold** or __bold__
link:[text](http://url.com/ "title")
image?![alt text](/path/img.jpg "title")
numbered list: 1. Foo 2. Bar
to add a line break simply add two spaces to where you would like the new line to be.
basic HTML tags are also supported

learn more about Markdown

Tags:

tax-exemption ×81
taxable-income ×38
leave-encashment ×21

Asked: Nov 02 '11 at 16:56

Seen: 2,895 times

Last updated: Nov 02 '11 at 23:51

exemption limit on leave in cashment on retirement

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Follow this question

Related questions