Income Tax : The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retire...
Corporate Law : This article explains the revised ₹25 lakh exemption limit under Section 10(10AA). The key takeaway is that while the benefit is...
Income Tax : Taxpayers who applied the old ₹3 lakh limit can still correct the mistake by revising their return. Revision before the deadline...
Income Tax : Section 119(2)(b) applications enable retirees to claim leave encashment exemption up to ₹25 lakh, condoning delays in filing re...
Income Tax : Analyses how multiple ITAT rulings extend the enhanced ₹25-lakh exemption to earlier years, treating CBDT’s notification as a ...
Income Tax : The ITAT Ranchi held that a retired non-government employee was entitled to exemption under Section 10(10AA)(ii) for the entire le...
Income Tax : The dispute concerned deduction of CSR expenditure incurred before Explanation 2 to section 37(1) became applicable. The ITAT held...
Income Tax : ITAT ruled that employees opting for the BSNL VRS Scheme, 2019 are entitled to full exemption under Section 10(10B) on retrenchmen...
Income Tax : The ITAT set aside the lower authorities’ orders after considering CBDT Notification No. 31/2023, which increased the leave enca...
Income Tax : The ITAT allowed relief after considering CBDT Notification No. 31/2023, which increased the leave encashment exemption limit to ...
Labour Laws in India mandates for paid leave every year to employees. Employees who can not utilise the paid leave, Employers allow employee to carry forward unutilised paid leaves to further years and to encash at the time of retirement or resignation etc. The encashment of such unutilised paid leave are known as Leave Encashment. […]
