Retired employee's leave encashment from DoT exempt, BSNL amount less than Rs. 3L also exempt.

A retired employee received leave encashment upon retirement, divided between the Department of Telecommunications (DoT) and Bharat Sanchar Nigam Limited (BSNL). The Income Tax Appellate Tribunal (ITAT) ruled that the amount from DoT is exempt under section 10(10AA)(i) as it pertains to a Central Government employee. The BSNL amount, being less than Rs. 3 lakh, is also exempt under section 10(10AA)(ii) applicable to non-government employees. The denial of the exemption under section 10(10AA) was reversed, and the appeal was allowed. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X