{"id":34997,"date":"2023-06-30T19:28:13","date_gmt":"2023-06-30T13:58:13","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=34997"},"modified":"2023-08-04T13:29:43","modified_gmt":"2023-08-04T07:59:43","slug":"leave-encashment-exemption-applicability-limit-of-rs-2500000-is-applicable-in-all-the-cases","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/leave-encashment-exemption-applicability-limit-of-rs-2500000-is-applicable-in-all-the-cases\/","title":{"rendered":"LEAVE ENCASHMENT EXEMPTION APPLICABILITY LIMIT OF RS 2500000 IS APPLICABLE IN ALL THE CASES"},"content":{"rendered":"<p>Leave encashment benefits received by the salaried class at retirement, whose limit has been hiked from \u20b93 lakh to \u20b925 lakh in the Budget, will be tax-free in their hands under the new income tax regime even if they switch to it in the year of retirement, Revenue Secretary Sanjay Malhotra told. IS THIS FACILITIES ARE AVAILABLE ON ACCURAL BASIS OR PAYMENT BASIS, SUPPOSE A PERSON HAS BEEN RETAIRED FROM PSU SERVICE ON 31.10.2022 BUT HIS FINAL SETTLEMENT IS NOT YET DONE TILL TO DAY i.e. GRATUITY , LEAVE ENCASHMENT IS NOT YET PAID, MY QUESTION IS CAN HE AVAIL THE BENEFIT OF TAX EXEMPTION LIMIT RS.25,00,000 ON LEAVE ENCASHMENT ? THOUGH HE HAS RETAIRED FROM SERVICES ON 31.10.2022<br \/>\nREGARDS<br \/>\nY.S.MAHAPATRA<br \/>\n8896600712<br \/>\nE MAIL ysmahapatra@yahoo.com<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[425,1023,431],"class_list":["post-34997","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-leave-encashment","qa_tag-leave-encashment-exemption","qa_tag-leave-salary"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/34997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34997"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34997"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=34997"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=34997"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=34997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}