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Mahesh Padmanabhan |124 Answers |Ask -Follow

Tax Expert - Answered on May 26, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more

Question by Naresh on Apr 26, 2023Hindi

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Wether new leave encashment benefit will be available who has retired on 31 St March 2023 and rec'd payment after 2 St April

Ans: Hi Naresh
This may depend on the year in which the Full & Final settlement calculation is done by your employer. If it is done in the FY 2023-24 and the Form 16 is issued in this year then you could claim the enhanced deduction limit

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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I have retired from central PSU in October 2022. Whether my Earned Leave Encashment amount I received during my retirement is taxable during current year, since exemption amount increased from Rs. 3.00 Lakhs to Rs. 25.00 Lakhs.

Ans: Hello Investor

As a financial advisor, I would advise you to consult a chartered accountant for specific tax planning advice. They have expertise and in-depth knowledge of tax laws and regulations and can provide you with personalized strategies to minimize your tax liability. I can assist you in creating a comprehensive financial plan, but for tax planning, it is best to consult a tax professional.

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I retired from PSU general Insurance on 31st January 2023 .Is exhemption of 25 lakhs for leave encashment is applicable for me. J.P.Sharma,Guwahati

Ans: Income tax vide notification dated May 24, 2023 notified that Leave Encashment will be exempt upto Rs.25 Lacs for non-government employees with effect from Apr 1, 2023. Further, the exemption limit is likely to be applied to the employees retiring after coming into force of the said Notification.

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Insurance, Stocks, MF, PF Expert - Answered on Dec 04, 2024

Question by Yash - Dec 03, 2024Hindi

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Sir, I have worked with the Mysore paper Mills bhadravati from 1985 to 2016 and on deputation I went to Karnataka state beverages corporation limited and retired on 2024. My parent organisation declared closure on labour court judgement on 2021. But we on deputation continued our services till superannuation. Now for terminal benefits, I have been given Pf amount till 2021 and for pension- 95 also. For the period 2021 to 2024 I couldn't understand whom to ask. Please advice me.

Ans: Hello;

Your case is unique.

I am sure you may have other colleagues who are facing similar concern.

Therefore I recommend that you seek advice from a lawyer specializing in labour/EPF laws and take steps to recover your funds through legal means.

Best wishes;

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Hello sir im a 12th passout in 2024 feb Maharashtra board, but i will not satisfied with my marks in 2024 i give improvement exam in 2025 feb but i still not agreed i want to give improvement exam in jully 2025 attempt i have options or not sir plese reply me

Ans: The board did not specify anything related to the number of reappearances. However, before reappearing for the exam, you should be adequately prepared to avoid wasting time.

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I am a 12th student now in state board of tamil Nadu and I am a government school student what is the minimum requirement for me to join mbbs in AFMC medical College

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Age: 17-24yrs
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ToELR & PAT - Test of English Language and Reasoning (ToELR) in the form of Computer Based Test (CBT) and also Psychological Assessment Test (PAT) to be conducted at AFMC, Pune only for candidates shortlisted for interview. (t) Written Examination Score - Score obtained in NEET (UG) 2024 (720 marks) added to ToELR Score (80 marks) divided by 4 to get a score out of 200. (u) Final Score - Written examination score (200 marks) + Interview marks (50 marks).

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In my 10th marksheet my father's name is "Binay singh" and In other Government documents like aadhar card,pan card,Ration card my father's name is "Binay kumar singh" And while filling the application form I filled my father's name according to Government document "Binay kumar singh" . Please guide me what should I do now. I made an affidivat From First class magistrate regarding the name "Binay kumar singh and Binay Singh" Both are same person Will there be any problem during counselling if yes please guide me.

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I am a second-year mechanical engineering student with an interest in AI. I want to understand the scope of AI and the possible future in India. Also, how do you think Amazon layoffs will affect the nature of jobs available in India? What kind of additional courses I can take up along with my engineering studies to be able to get a good job with a good starting salary?

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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