Leave Encashment - (New) Section 19 / (Old) Section 10(10AA)]

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....tirement whether on superannuation or otherwise. (a) In case of Central or a State Government Employee [ Section 19(1) Table (Sl. No. 13) ] Amount of  deduction -  Entire Amount  (b) In case of Non - Government Employee [ Section 19(1) Table (Sl. No. 14) ] Amount of Deduction - Amount being minimum of- (a) the cash equivalent of t....

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....ved from one or more than one employer in the same tax year (whether or not any such payment or payments was or were received in any earlier tax year), • the aggregate amount of deduction shall not exceed- A - B, where,- A = the limit specified by the Central Government, by notification (i.e. 25,00,000/-); and B = the aggregate amount of payment or ....

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.... government or State government employee (excluding employees of a local authority or statutory corporation)  then leave salary encashment is fully exempt. • In case of any other employee, least of the following shall be exempt: • Actual amount received • The amount specified by the government • Rs. 25,00,000/- ( Form 01.04.2023 Notification....

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....egate maximum amount exempt from tax on account of leave salary cannot exceed Rs. 25,00,000/-. • If the employee had received leave encashment in any one or more earlier PY and had availed of the exemption in respect of such amount, then the limit specified above shall be reduced by the amount of exemption availed earlier. Note:- • Relief under section 89 read wit....