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

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.

asked Mar 12 '12 at 12:48 by sneha 1111


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

answered Mar 14 '12 at 00:19 by Pankaj Batra 5.2k320

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Asked: Mar 12 '12 at 12:48

Seen: 3,339 times

Last updated: Mar 14 '12 at 00:19