Leave Encashment Salary Exemption - [Section 10(10AA)]

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....is received in case of retirement or superannuation or resignation, then exemption is available up to the following limits: * In case of Central government or State government employee (excluding employees of a local authority or statutory corporation) then leave salary encashment is fully exempt. Retired employees of PSUs and nationalised bank cannot be treated as Government employees and th....

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....s allowance to the extent it forms part of retirement benefits and percentage wise fixed commission on turnover. * If leave encashment is received by an employee from more than one employer in the same previous year or in different previous years the aggregate maximum amount exempt from tax on account of leave salary cannot exceed Rs. 25,00,000/-. * If the employee had received leave encashmen....