Tax on leave encashment

[udit gupta]

Dear Sir, Please suggest me :- Q:- Ramesh was working pvt ltd. company and he worked 6 year after he left the company Dated 10.10.10 and his basic salary of Rs. 3,00,000 at the time of leaving and his balance leave is 72 then what will be tax please advise. last basic - 300000 Leave balance - 72 date of leaving company- 10.10.10 Tax ??? Regards Udit

AI Summary

Tax Implications on Leave Encashment for Private Company Employees: Key Details on Limits and Liabilities Needed A user inquired about the tax implications on leave encashment for an individual who worked at a private company for six years, with a basic salary of Rs. 3,00,000 and a leave balance of 72 days upon leaving the company. A respondent, a chartered accountant, requested further details, specifying that leave encashment cannot exceed 30 days per completed year of service. This information is necessary to determine the tax liability accurately.