Casual leave is available up to 12 working days per calendar year, subject to a minimum of half a day and a maximum of five days at a time. Public holidays cannot be combined to extend absence beyond 12 days, and leave beyond prescribed limits becomes ordinary leave for the entire period. Prior sanction is required, subject to emergency intimation within 24 hours. Employees joining during the year receive one day per month, while 50 percent of unavailed leave is credited to ordinary leave.

Leave and disciplinary status are regulated by restricting the grant of leave to an employee under suspension or facing pending disciplinary proceedings. Leave may not be granted while either status continues.

Medical fitness certification may be required by the competent authority before an employee resumes duty after taking more than three days' leave for health reasons, even where the leave was not originally supported by a medical certificate.

Return from leave requires an employee, unless instructed otherwise, to report for duty at the place where the employee was last stationed. A contrary instruction may specify a different reporting location.

Employees proceeding on leave must intimate the competent authority of their leave address and contact number before departure. Any change in the address furnished during the leave period must be promptly communicated to the competent authority.

Leave commencement and termination are determined by reference to charge handover and resumption of duty. An employee's leave begins on the working day immediately following the day on which the employee takes over charge. Leave ends on the working day immediately preceding the day on which the employee reports back for duty after leave.

Leave is not claimable as a matter of right. Where service exigencies require, the authority empowered to grant leave may refuse or revoke leave of any kind and may recall an employee on leave when necessary in the interests of the Authority's service. Earned leave lapses on cessation of service unless specifically preserved. An employee may not return to duty more than 14 days before approved leave expires without the granting authority's permission.

Leave-granting authority vests in the competent authority under the International Financial Services Centres Authority (Employees' Service) Regulations, 2020. Employees must address every leave application to the authority empowered to grant leave.

Employees may be granted casual, special casual, ordinary, sick, special, maternity or paternity, extraordinary, accident, study, and other Authority-specified special leave. Leave pay is drawn at the full or half rate according to the leave category availed. No pay is admissible during extraordinary leave.

Every employee must declare domicile in writing upon appointment and must establish it to the Competent Authority's satisfaction if it differs from the place of birth. A declared domicile may be changed only upon establishing that the change is bona fide, and no change may increase the Authority's cost of any employee concession.

Increment entitlement on promotion depends on whether the employee has reached the maximum of the pre-promotional incremental scale. Before reaching that maximum, the next promotional-grade increment remains due on the existing pre-promotional increment date. After reaching the maximum, it is due one year after promotion, unless a post-scale benefit, including personal allowance or stagnation increment, was due within that year; the increment then falls on the benefit-accrual date.

On promotion, an employee's pay is initially fixed at the minimum of the higher-grade scale, with any positive difference from substantive pay in the former scale treated as personal pay. Upon confirmation in the higher grade, pay is re-fixed at the next higher stage above the former-scale substantive pay as on the confirmation date, if that amount exceeds the pay drawn at confirmation.

Annual increments accrue in incremental scales during probationary, officiating, and substantive service, and become admissible from the first day of the month of accrual. Officiating service in higher and relevant intervening grades counts for increments, while leave without pay is excluded unless authorised in writing. Increments require competent-authority sanction and may be withheld only as a disciplinary measure. Efficiency-bar increments require fitness certification, without retrospective benefit on removal of the bar. Stagnation increments may be granted to employees at the final stage of the applicable scale.

Compensatory allowance, excluding pay, may be granted to employees required to work on holidays or additional weekday hours for the Authority's work. The Chairperson determines the applicable rate and circumstances for drawal. Special compensation allowance may be considered personally for contractually hired expatriates or Indian citizens working abroad or in India, subject to the Chairperson's recommendation and the Authority's approval, where the required expertise or talent is unavailable internally and cannot ordinarily be procured through the public sector or open market under approved recruitment rules.

Allowances are payable only to employees who are actually fulfilling, at the relevant time, the conditions governing their admissibility. Entitlement to payment depends on continuing compliance with the applicable conditions.

Pay and allowances cease to accrue when an employee ceases to be in service. In cases of dismissal, removal or compulsory retirement, they cease on the relevant date. Where an employee dies while in service, pay and allowances cease from the day following the date of death.

Pay and allowances are not payable for the part of a month during which an employee leaves or discontinues service without giving due notice, unless the competent authority waives that notice requirement.

Pay and allowances accrue from the commencement of an employee's service and are payable on the afternoon of the last working day of each month for service performed during that month. An employee proceeding on ordinary leave, excluding extraordinary leave, for a period of at least one month may obtain one month's pay and allowances in advance upon application.

Reassessment under Sections 147 and 148 cannot sustain independent additions where no addition is made on the income forming the recorded basis for reopening; a fresh notice is required for other income. Trading losses reported as business income remain allowable where trade-wise and scrip-wise details support the transactions and no material establishes accommodation entries. Corporate club membership fees incurred to facilitate business meetings, relationships and contacts are deductible where no evidence shows directors' personal benefit. Stock-exchange charges incurred in the ordinary course of business, including those arising from operational deficiencies or regulatory breaches, are not barred by the Explanation to Section 37(1) unless paid for an offence or an act prohibited by law.

Pay, allowances, welfare schemes and other employee benefits may be determined by the Authority at its discretion. Separate short-term recruitment arrangements may be used for senior expatriates or Indian citizens working abroad where expertise is unavailable domestically. Exceptional lateral recruits on deputation or absorption may receive a personal special compensation allowance where the required talent cannot ordinarily be sourced internally, from the public sector or through open-market recruitment. Improved pay packages may be offered to attract industry talent.