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TAX ON LEAVE ENCASHMENT
Retired employee gets income tax notice over Rs 9.29 lakh leave encashment; ITAT Jaipur cancels it and gives him full tax exemption, here's whyMr. Gupta, a former employee of the State Bank of India, found himself facing an income tax notice concerning Rs 9.29 lakh in leave encashm...- Retired employee received income tax notice for Rs 9.04 lakh leave encashment; she wins case in ITAT Jaipur, know how leave encashment is taxedRetired employee sent income tax notice for Rs 9.04 lakh leave encashment, she wins case in ITAT Jaipur; Know how leave encashment is taxed...
- VRS offer in hand? Check these tax rules before you accept the packageContemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implication...
- Employers face compliance hurdles as states delay notification of Labour Code rulesTen states and union territories have formally adopted some Labour Codes, creating compliance challenges for companies. Major industrial st...
- Companies upset as states delay labour codes adoptionMajor industrial states including Karnataka, Tamil Nadu, Maharashtra, Telangana, Haryana and Punjab are taking longer than expected to noti...
- New labour code impact: Rs 8k less take home pay likely for employee with Rs 15 lakh CTC; check the impact on CTCs of Rs 10 lakh, Rs 25 lakh and Rs 50 lakhNew labour codes mandate higher provident fund contributions for employees. This change reduces monthly take-home pay for many salaried ind...
- Income tax for senior citizens: No salary after retirement? These 7 incomes can still attract tax; know what is exemptRetirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It...
- Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full reliefWhen Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment...
- Retiring in 2026? Check how much tax-free leave encashment you can claim before filing ITR
- Leave encashment tax rules for AY 2026-27: How much exemption salaried employees can claimITR Filing 2026-27: Salaried employees can claim tax exemption on leave encashment at retirement. While government employees enjoy full exe...
- Retired government employee denied tax exemption on leave encashment,fights and wins in ITAT Chandigarh; here’s whyIn a recent ruling, the Income Tax Appellate Tribunal in Chandigarh has granted a significant tax relief to Mr. Saini, a retired worker fro...
- Retired employee denied tax exemption on Rs 13 lakh leave encashment, ITAT Jaipur restores tax benefit under new Rs 25 lakh limitA retired State Bank of India employee from Jaipur won a tax case. The Income Tax Appellate Tribunal ruled in his favor, increasing his lea...
- Tax exemption limit on leave encashment increased to Rs 25 lakh for non-government salaried employeesThe finance ministry announced the maximum limit for encashment of earned leave that is exempt from income tax in accordance with the budge...
- CBDT notifies enhanced leave salary encashment limit for non-government employeesThe CBDT’s notification aims to implement the Budget 2023 proposal that promised to increase the income tax exemption limit on earned leave...
- India Budget 2023: Sitharaman offers cash bounty if you don't take leave from work"The limit of Rs 3 lakh for tax exemption on leave encashment on retirement of non-government salaried employees was last fixed in the year...
- Tax exemption on leave encashment on retirement of non-government salaried employees increased in Budget 2023According to Nirmala Sitharaman in her Budget speech, “The limit of Rs 3 lakh for tax exemption on leave encashment on retirement of non-go...
- How central government employees can avail benefit under LTC cash voucher schemeHere is a look at the details of how central government employees can avail the LTC cash voucher scheme as per an office memorandum issued ...
- Govt launches tax-exempt LTC cash voucher scheme to boost consumer spendingThis is a one-time scheme and payment will be only in lieu of one LTC during the block of four years 2018-21. This should help people to so...
- Query corner: TaxationOur expert Vaibhav Sankla, executive director, Adroit, guides you in matters relating to taxation.
- HC makes leave encashment less taxingAcc to Income-Tax Act, deduction can be claimed only for actual cash-flow and not for the provisions made.
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