As per section 10(10AA) of income tax in india, leave encashment amount received by employee by a previous employer in full and final statement, is non-taxable. So If you have changed a job in financial year and received leave encashment for the remaining earned leaves (ELs) Just deduct the amount from total income and compute the income tax on top of that.
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Thanks very much for taking your time to create this very useful infos .
I am making a report .I was searching for website about income tax calculator this blog. I am interested in your information and appreciate sites like this.
is iterim relief is allowed in the calculation earned leave encash ment for retired ap state govt. employees
is a reimbursement of children education allowance a part of gross salary?
@Meena,
Children’s education allowance qualifies for an exemption of Rs 100 per month per child subject to a maximum of two children.
It will be added to gross salary but above amount will be exempted. Please use income tax calculator for computation.