Maximum exemption in respect of leave salary receivable by employees of Central Government as specified in the Table u/s 10(10AA)(ii) - S.O.249(E) - Income Tax Act, 1961
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Exemption for leave salary: government prescribes maximum limits for central employees retiring within specified periods. The Central Government prescribes maximum exemption limits for the cash equivalent of earned leave salary payable to its employees on retirement under section 10(10AA)(ii), by specifying monetary ceilings in a Table tied to periods of retirement; the notification fixes the applicable ceiling for employees retiring within each stated period so that the tax exempt portion of leave salary is limited to the amounts listed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for leave salary: government prescribes maximum limits for central employees retiring within specified periods.
The Central Government prescribes maximum exemption limits for the cash equivalent of earned leave salary payable to its employees on retirement under section 10(10AA)(ii), by specifying monetary ceilings in a Table tied to periods of retirement; the notification fixes the applicable ceiling for employees retiring within each stated period so that the tax exempt portion of leave salary is limited to the amounts listed.
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