Salary is taxable on a ‘due’ or ‘receipt’ basis, whichever is earlier. As you have retired in February 2024, the leave encashment became due to you in February 2024 itself. While section 10(10AA) of ...
Whenever you receive a corpus amount from your employer, the first thing that comes to mind is tax, which majorly happens in the case of retirement or partial withdrawal from savings, like PPF or NPS.
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