Leave encashment is taxable. The taxable conditions differ from sector to sector and from one company to another. Leave encashment policy also varies from one company to another. Some companies are liable to compensate for the accumulated paid leave at the time ofresignationor retirement. Other com...
If the employee has accumulated paid leave without availing it, it can be exchanged for money. This amount of money the employee receives in exchange for the leaves accumulated is called the leave encashment. Theleave encashment policiesvary from one organization to the other. Some account for t...
Q.1 What documents one needs to submit while filing tax returns? Q.2 – What are the heads under which Pension and family pension are taxable? Q.3 – Who is eligible to file return via paper form rather than e-filing an ITR? Q.4 – What amount will attract tax if the value of ...
Book profit isamount calculated as per Income Tax Act to arrive at amount of maximum allowable deduction of remuneration of partner. In this article we discussion about steps to calculate book profit of Partnership firm to calculate partners remuneration. What is a casual income? Casual income, as...
+ Leave encashment • Exempted leave encashment XXX (XXX)XXX + Pension • Amount exempted XXX (XXX)XXX + employer’s contribution (in excess of 12% salary of employee)XXX + Interest on PF in excess of the notified amountXXX Gross SalaryXXXXX ...
Oyo provided bandwise notice period duration + ex-gratia (for every half year served, the amount increases), leave encashment, variable pay (if any) and also paid gratuity as ex-gratia. It also provided complimentary outplacement agency service to 100 per cent of the impacted workforce. These...