The maximum amount eligible for exemption in respect of encashment of earned leave on retirement is:

CS Executive · Tax Laws and Practice · PYQS · December 2017
The maximum amount eligible for exemption in respect of encashment of earned leave on retirement is:
(A) ₹ 3,00,000
(B) ₹ 10,00,000
(C) ₹ 50,000
(D) ₹ 5,00,000

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic