Leave encashment exemption under section 10(10AA) limits tax-free cash equivalent for retirements after a specified date. The Central Government, under sub-clause (ii) of clause (10AA) of section 10 of the Income Tax Act, specifies a ceiling as the maximum amount receivable by employees as cash equivalent of leave salary at the time of their retirement, whether by superannuation or otherwise, for the purpose of exemption under that provision; the specification applies to employees retiring after a specified date.
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.
Leave encashment exemption under section 10(10AA) limits tax-free cash equivalent for retirements after a specified date.
The Central Government, under sub-clause (ii) of clause (10AA) of section 10 of the Income Tax Act, specifies a ceiling as the maximum amount receivable by employees as cash equivalent of leave salary at the time of their retirement, whether by superannuation or otherwise, for the purpose of exemption under that provision; the specification applies to employees retiring after a specified date.
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