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of <h1>New Notification Sets Leave Salary Limits for Government Retirees Under Section 10(10AA)(ii) of Income-tax Act</h1> The Central Government has issued a notification under section 10(10AA)(ii) of the Income-tax Act, 1961, specifying the maximum cash equivalent of leave salary receivable by its employees upon retirement. The specified amounts are based on the period of retirement: Rs. 73,400 for retirements between July 1, 1986, and December 31, 1986; Rs. 75,600 for January 1, 1987, to June 30, 1987; Rs. 77,760 for July 1, 1987, to December 31, 1987; and Rs. 79,920 for retirements from January 1, 1988, onwards.
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