https://www.taxtmi.com/news?id=26547 The tax exemption for leave encashment of non-government salaried employees on retirement or otherwise under section 10(10AA)(ii) has been increased to Rs.25 lakh w.e.f. 01.04.2023. The aggregate exempt amount shall not exceed Rs.25 lakh where payments are received from more than one employer in the same previous year, and the exempt amount in the year of payment must be reduced by any exemption already allowed under section 10(10AA)(ii) in prior year(s). Notification No.31/2023 dated 24.05.2023 effects the change. en-us Thu, 25 May 2023 18:00:55 +0530 Thu, 25 May 2023 18:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26547 The tax exemption for leave encashment of non-government salaried employees on retirement or otherwise under section 10(10AA)(ii) has been increased to Rs.25 lakh w.e.f. 01.04.2023. The aggregate exempt amount shall not exceed Rs.25 lakh where payments are received from more than one employer in the same previous year, and the exempt amount in the year of payment must be reduced by any exemption already allowed under section 10(10AA)(ii) in prior year(s). Notification No.31/2023 dated 24.05.2023 effects the change. News - Thu, 25 May 2023 18:00:55 +0530 https://www.taxtmi.com/news?id=26547