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Mihir Tanna  |798 Answers  |Ask -

Tax Expert - Answered on Sep 18, 2023

Mihir Tanna has more than 10 years of experience in direct taxation, including filing income tax returns.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Asked by Anonymous - Sep 17, 2023Translate
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I have received leave encashment on retirement in FY 24-25. But I have retired on January,23. Being a PSU employee , can i avail tax exemption of Rs 25 L on leave encashment Payment?

Ans: In all the relevant provisions of Sec 10(10AA) used the word "received". Thus, in my view, date of receipt is important and accordingly, if LTA is received in FY 2024-25, revised limit applicable from 1.4.2023 will be applicable
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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