ITAT Grants Rs 9.29 Lakh Leave Encashment Relief to Retired SBI Employee
A retired SBI employee from Jaipur received Rs 9.29 lakh as leave encashment upon retirement in 2020 and did not pay tax on it. Under income tax law, SBI staff are treated as non-government employees, allowing leave encashment exemption up to Rs 3 lakh. The tax authorities capped the exemption at Rs 3 lakh, but the ITAT granted relief for the full Rs 9.29 lakh amount.
TOI Business··Jaipur




