56. Leave Salary or Encashment | Sec. 10(10AA) Income under the head Salary | Income Tax AY 2024-25

[@StudyAtHome]

✅Join Study At Home WhatsApp Channel - whatsapp.com/channel/0029VaAOYpQ7j6g3r4W4Rr0H ✅Stay in Touch with CA Raj K Agrawal by following him on all his social media - linktr.ee/CARajKAgrawal

[@vn516]

wonderful way to remember when to use the 15/26 and 15/30 criteria. Normally we see everyone simply memorizing the formulas without any conceptual reason or at least a logical way of remembering things. Your reason that Govt. wants to give slightly more benefit and hence 15/26 and 'year round off', whereas when Govt wants to give lesser benefit it is 15/30 and 'no year round off/completed year of service' makes it super easy and effortless to remember things. You are a master in your craft of teaching. Makes sense to continually update ones knowledge with your videos rather than wasting time on random videos on you tube. Thanks for your time and efforts.

[@StudyAtHome]

I appreciate your thoughtful comment! 😊 I'm thrilled to hear that you find the approach of understanding the reasoning behind formulas helpful. Making learning more logical and concept-based is one of my primary goals!

[@akashkamath77]

Can you explain what criteria you are talking about 15/26 and 15/30 ?

[@Meatmoon]

​@@akashkamath77 Exactly He is talking about something else This criteria is not discussed in this video..

[@akashkamath77]

@@Meatmoon He is talking about gratuity. You will get it in further videos.

[@abhedkant]

This class felt little bit difficult for me but I watched this it twice and understood completely. Thank you sir 🙏

[@StudyAtHome]

You're Welcome! Glad you got it😊

[@niyatee_11]

You explained fabulously. I've never understood this concept with such clarity. Thanks alot Sir.

[@StudyAtHome]

You're welcome! Glad to know that! 🙌😊

[@ankitjha2]

Thank you sir ❤️ Session was great as always ❤️🙌

[@StudyAtHome]

You're Welcome! Glad you like it!🙌

[@ShivaniSharma-tg8mp]

I have to watched this class twice because I face some difficulty to grasp the concept ..but sir your way of teaching is very understandable. ...thanks for these lectures😊😊

[@StudyAtHome]

You're welcome! Thank you for your feedback dear student!😊

[@RohitSaw-h8j]

Very simple and better explaination 😎 😊😊 sir

[@StudyAtHome]

Thankyou

[@mdjahangiralam1009]

Thank you so much sir for explaining us such complicated topic in a easiest manner

[@StudyAtHome]

You're Welcome! Glad you liked my teaching style.

[@kunalgautam9353]

1 ghante ki class ki confusion aap ne 1 minutes 45 second mein khatam kardi leave salary se related ❤

[@apsarasenthil7659]

May god bless you with lot of happiness and good health sir! Its a big step to provide the tough subject for nil payment that too with clear conceptual clarity and practice. Im perosn who dont know Hindi, subtitles you are providing is saving me for real.Thankyouu so much sir! But also one more help from your side sir please upto capital gains subtitles are being provided after capital gains subtitles are in hindi please so something sir please!

[@HoneyMJain]

Thank u so much sir 🙏 very grateful to receive knowledge from such a legendary tax teacher 🙏

[@StudyAtHome]

I'm truly touched by your kind words

[@ShubhamVishwakarma-et1cs]

in this class i learn new topics surrender of salary and foregoing of salary thanku very much sir

[@StudyAtHome]

Good! You're welcome!

[@ritupatil2706]

Thank u sir 🙂 never feel tired in ur sesions u create an another magic in all sesions ...

[@StudyAtHome]

Glad to hear that

[@dilipnorton6465]

Thank you sir i have understood encashment of salary, calculating exemption under head salary❤❤

[@StudyAtHome]

You're most welcome!

[@chetanagrawal7283]

Sir, when will the income tax course be completed?

[@StudyAtHome]

Jan 2024

[@anjalibende7219]

Very clear presentation

[@StudyAtHome]

Thanks a lot

[@kumkumsharma3694]

Sir lecture ke starting me background bhott pyaaraa h 😍🤞💵💵💸💸😅 Or explanation toh as usual amazing hi hai no words for that 😍🤞

[@StudyAtHome]

Thank you so much! Glad you liked it! 😊🙌

[@utkarshraj7880]

Thankyou sir Happy sarswati puja❤😊

[@StudyAtHome]

You're always welcome! 😊

[@raameshkariya8374]

Wonderful Explanation Sir. Sir our company provides mandatory leave encashment every year in march salary and no carry forward rule, so while working for the same company can we exempt leave exempt amount or it is not possible. Can you please clear this doubt. Thank you in advance 🙏🏻

[@P_Priyankabadgujar]

Great teaching sir ❤️❤️❤️❤️

[@StudyAtHome]

Thanks

[@siddhikakatkar-1890]

Sir there was my one question regarding during tenure if leave encashment taken then is taxable for non-gov employees and for gov employees is it taxable?Sir you teach difficult concepts really in easy manner the best part of the vedio is how you made the sums very much easier to solve .I really like the solution part of every vedio sir thankyou for yiur efforts

[@damonsalavatore951]

sir the GST course uploaded is applicable for dec 2024 cma exams toooo

[@samridhiupadhyay305]

Thank you for being a great mentor , you are amazing

[@StudyAtHome]

😇

[@nripendraku]

38:01 salary for computation of exemption of leave encashment= Basic 50,000+3,000=53,000

[@Sam-dy4sv]

wonderful teaching sir ji 🙏🙏

[@StudyAtHome]

Thank you! Keep watching! 😊🙌

[@vikramadiga6372]

Wonderful class by sir

[@StudyAtHome]

Thank you!

[@Chitranhs24]

It was a wonderful class. Thank you so much sir ✅

[@StudyAtHome]

You are most welcome!

[@hackerbeluga]

sir, leave salary ke non gov. employee me least of the following is exempt ke books jo aapse purchase kiya hai usme 3rd point me 3,00,000 less amount exempted earlier mention kiya hua hai and aapke pass jo book hai usme 25,00,000 hai ??? which is right sir ?

[@hamidraza7531]

Sir is doubt ko please clear kar dijiye🙏.

[@kurukshetraUniversity-rb3qh]

27:48 par divide by 10 kyu kiya sir ?reply plz teaching superb sir 🎉

[@StudyAtHome]

Kyuki 10 month ka average lena hota hai

[@kurukshetraUniversity-rb3qh]

@@StudyAtHome ok sir thanks a lot

[@Beena_Gupta0305]

I have a doubt sir: If question has given (in case of covered employee) Last drawn salary by employee is Rs.10000 and his latest salary is rs.12000. Which one should we consider for calculation?

[@rishikavishwakarma5395]

Lectures are amazing but sir please create one shot of chapter so that we can revise it in short time

[@reenajha5399]

Blessed to have a teacher like you ❤

[@StudyAtHome]

So nice of you!

[@ameetopiwala7255]

Thank you so much sir for the best lecture 😊

[@StudyAtHome]

You're most welcome! 😊🙌

[@kritykumari113]

Sir Sara head complete krne ke baad hi TDS or TCS padhana chahiye ya phle v smjh aa jayega please answer me 🙏🙏

[@anjalibende7219]

This Exemption is it applicable to Any Leave exemption

[@ChandanCMA23]

35:29 Sir In your Book,there is “300000 less amount exempted earlier” Please make out this provision clearly

[@KitabeeOrg]

Amazing lecture!!

[@StudyAtHome]

Thank You!

[@sashisharma4249]

what is the minimum age of retirement to claim leave enchashment exemption if I left working in corporate for ever. can I claim leave enchashment exemption up tp 25 lakh.??

[@StudyAtHome]

There is no min age requirement

[@subhajitmajumdergamezone]

I enjoyed your whole lecture Sir you're awesome 👍❤

[@StudyAtHome]

Glad to hear that 😇

[@nripendraku]

8:49 इतना energy कहा से ecquire करते हैं सर कृपया source बताइए।😊🎉

[@anupamchatterjee4238]

Half pay leave encashment after retirement is exampt in incometax? If yes please let me know the section.

[@yuktaBhorhari]

Sir when I am going to give main exam in may 2025, I can watch this lectures for preparation of may 2025 exam.....

[@StudyAtHome]

Yes you can

[@skrayhan4311]

wonderful

[@StudyAtHome]

Thanks

[@somyagupta7215]

48:43 Sir, while calculating unavailed leaves why are we taking 14 months instead of 14.75 months?

[@StudyAtHome]

Check provision, completed year is taken.

[@demon04x]

Thank You sir jiii ❤🙌🏻

[@StudyAtHome]

👍

[@Navodianradhika]

26:03 ab mujhe bhi realise ho rha hai ki income tax sabko asani se samajh kyu nhi ata hai par main to samajh ke hi manungi , I,m ca aspirant 😊

[@RajElite803]

Hello sir, your session is very helpful for me. Can you please share income tax website link where it is mentioned no. of years complete years of service needs to be consider for exemption

[@StudyAtHome]

search it on incometaxindia.gov.in

[@ANKITJHA-ig8db]

Thank you so much sir ❤

[@StudyAtHome]

Most welcome

[@RekhaSharma20-dz2cv]

Sir i want this notes . from where i will get notes ... Pls sir tell me

[@StudyAtHome]

You can buy PDF from here - app.studyathome.org/263503 Printed Book from here - studyathome.org/products/gst-book-by-ca-raj-k-agrawal-for-ca-intermediate/

[@bhabagrahipanda2500]

I retired in Nov 2022 from bank.As per revised salary I got around 2.64 lakh for difference in PL encashment of 8 months in Financial year 2024-25. As at present leave encashment is not taxable upto 25 Lakh. In 2022-23 what I have got above 3 lakh given tax.Arrear 2.64 Lakhs I have got if taxable or not in FY 2024-25?

[@pavank5497]

Great lecture ❤❤❤ Thank you sir 🙏🙏

[@StudyAtHome]

Most welcome!😊

[@AnjaliShriniwasBadganchi]

Sir I have a doubt sir leave salary me least of the following exempt cases me 3rd condition tha ki 2500000 less amount exempted and aapke handbook me 300000 amount exempted likha hai It may be printing mistake .But, vo amount 2500000 hai ki 3000000 vo plz clear kijiye. Baki aapki teaching best hai sir I am very thankful to you for providing this series in free 🙏🏻😊

[@shaheersanju5263]

Actually that's a amendment

[@kamalnayan2423]

Now on wards max limit is 25 lakh

[@ayushsrivastava7297]

10:56 sir what In case of resign. Is leave encashment taxable or not ?

[@StudyAtHome]

Exempted

[@niranjanas4383]

Thank you sir

[@StudyAtHome]

Welcome

[@ShivamJha-pu8tv]

Great lecture sir.

[@aishwariyakumawat9189]

11:00 what if sir leave salary hume resignation k time par milty? hum retire nhi ho rahe but kudhse hi resign deke jaa rahe h tab hume leave salary milty vo kisme aata during / after the tenure??? btw your lectures are superb , i have already shared with two of my friend to subscribe and watch , also to buy books of yours.....

[@shivamchawla1974]

Sir in your book 3,00,000 is written instead of 25,00,000 in 3rd point please tell me which one is correct. Is there any exemption limit of 3 lakh...

[@StudyAtHome]

It has been amended and now it is ₹25,00,000.

[@ayushi-c3s]

sir in your book amount exempted is written of rupees 3lakhs. Which one is relevant , 25lakhs or 3lakhs?

[@StudyAtHome]

It has been amended and now the ceiling is 25 lakhs.

[@Yugadlakha]

Sir cma inter book me unearned leave ke liye 1× completed year - leave availed in months × Average salary de rakha hai

[@StudyAtHome]

Jo sir ne bataya woh correct hai. You can check it with income tax act.

[@Yugadlakha]

@@StudyAtHome 👍👍

[@nileshsolanki9558]

Sir job 1 yr conract pe tha lekin tds mai 2400 leave ka likha hai to kya mai use withdrawal kar sakta hau kya

[@saniyamehandistudio8828]

Thank you so much sir 🙏🏻☺️😊😊

[@StudyAtHome]

Welcome

[@radhikasaha8702]

Deeply entered into mind ❤

[@StudyAtHome]

Keep it up 🙌🏻

[@VishalShrimal-xe6hd]

Sir agr avg. Date 18 days in retirement month ho to avg. Kese niklega EX. RETIRED ON 18OCT. SALARY TILL 31/8/23. ₹40000 SALARY W.E.F 1/9/23 ₹50000 WHAT WILL BE THE AVG. SALARY?

[@sarojsahu7252]

Sir cma inter book me toh leave encashment ki limit 300000 dia hua hai

[@StudyAtHome]

App ki institute ki book me galat hai

[@nishithadhikari5915]

Sir company ni finalization of accounts and p&l , balance sheet finalization sikhao na

[@ansariarshi-zb5fb]

this lecture covers the icai study material

[@StudyAtHome]

Yes it covers

[@ChandraPrakash-ym3np]

Ye jo notes se padha rahe ho kaha milenge

[@StudyAtHome]

Link available in description. Do check out

[@thebassman5258]

35:40 yahan pe maximum ceiling 300000 ki hoti thi na, 25lakh June 24 exam se applicable? Kyuki study mat mein v 3lakh likha h

[@StudyAtHome]

It has been amended and now the ceiling is 25 lakhs.

[@yashsoni4727]

thank u sir

[@StudyAtHome]

Welcome

[@giridharraosarvade6793]

Hello sir, This is the statement I found for tax exemption on leave encashment during employment. " Any amount received as leave encashment during employment is fully taxable, but employees can claim tax relief under Section 89 of the Income Tax Act." So, Is there any way can we claim tax exemption on the leave encashed during employment as per the statement.

[@StudyAtHome]

No you can't claim exemptions. Relief is a different thing

[@giridharraosarvade6793]

@@StudyAtHome Thank you sir. Understood.

[@zeeshankhan90122]

SIR THANK YOU SO MUCH

[@StudyAtHome]

You're most welcome!

[@suyasha278]

Haan sir please special income aur other income par marginal relief ka ek video banao uspe bahot dikkat aati hai

[@StudyAtHome]

Kindly watch this video -- kzbin.info/www/bejne/gJSvh2iDi5h0fKssi=jkhWe94psBqd6Oto

[@Yatrakunj]

SIR WHEN OUR DIRECT TAX WILL BE COMPLETED ?

[@StudyAtHome]

It will be completed by January 2024.

[@hamidraza7531]

Sir aise padhaiye ga to ek din sab students teacher ban jayenge income tax ka😂.

[@StudyAtHome]

😂😂

[@poojasherawat55]

thank you so much sir for the amzing lecture 😄...aap live aate to mza hi aa jata😛

[@StudyAtHome]

Always welcome🙌 feedback noted!

[@2813yt]

47:36 Sir jo apki AY 24-25 ki book h usme exempted amount 3,00,000 likha h

[@StudyAtHome]

It has been amended.

[@StudyAtHome]

Limit is 25 Lakh now

[@neerajpandey7151]

sir aapki jo hand written book maine purchase kia hai book hai exempt leave salary 300000 but video me 25lakhs hai

[@StudyAtHome]

It has been amended and now it's ₹25 lakhs.

[@neerajpandey7151]

@@StudyAtHome okay sir thankyou 😊

[@mananbhandari2711]

Nice explanation ✨💗

[@StudyAtHome]

Thank you! 😃

[@KrishnaRoy-ek4io]

Sir apke book m 3,00,000 printed hai instead of 25,00,000

[@AvijitSutradhar-hj4dp]

Sir i can't understand in calculation of preceedin 10 month average .why you take 8.5month . 27:23

[@StudyAtHome]

10 months till 15.10.23 would be from 16.12.22 to 15.10.23. So, 8.5 months is 16.12.22 to 31.8.23 @40,000 p.m. thereafter, 50,000 p.m.

[@AvijitSutradhar-hj4dp]

Thankyou sir Now it's clear to me.

[@openforall997]

helpfull video

[@StudyAtHome]

Glad you found it helpful!

[@vishalgoel5951]

Very good Sir

[@StudyAtHome]

Thank you so much!

[@AartiKitture]

Sir textbook me to leave salary encashment ka statutory amount deduction ke liye RS. ३००००० Diya hai???

[@StudyAtHome]

Aapki book purani hai

[@AartiKitture]

Ok sir. I will check the latest.. thank u

[@divyapaliwal8258]

Nice class 😊

[@StudyAtHome]

Thank you! 😊

[@Sanebalak]

please correct it sir ...in book it is written 300000..and you are teaching 2500000 at 35:53 in leave salary part...or make it more clear...in icai study mat also it is written 2500000 exempt

[@StudyAtHome]

It is ₹25,00,000.

[@muskanqueen2783]

Sir we can see ur classes cs aspirants

[@StudyAtHome]

Yes you can

[@mananbhandari2711]

Dear Sir, Leave salary encashment ka statutory amount to 3 lakhs tha ab 25 lakhs ho chuka kya ✨ ?

[@StudyAtHome]

Yes!

[@kuldeeppianowala172]

Sir pls slove my doubt. How we calculate marginal relief in case of special income. E.g. if individual has RS 1,00,000 income u/s 112 and he has Rs 5,01,00,000 other income. Then sir hum 5 crore 2 lakh par tax to nikaal lenge. But jab marginal relief nikalenge to phele hum 5 crore par tax nikalenge but yha prblm yhh ki 5 crore me kitna portion special income ka hoga aur kitna others income ka . Pls tell me sir pls

[@StudyAtHome]

The calculation of tax on 5,00,00,000 will include special income of 1,00,000 and the other income of 4,99,00,000.

[@Lyrical_Sibani]

Sir is this relevant for cma inter students...

[@StudyAtHome]

Yes

[@ppatil2295]

Sir kya 25,00,000 ki limit sirf current year ke liye hai , ya lifetime ke liye hai, kyuki suppose agar 1 employee lifetime mai 20 jagah work krta hai aur usse har jagah leave salary milti hai toh uski exemption sirf current year ke liye hogi ya lifetime ke liye . I hope you get my query😁🤗

[@StudyAtHome]

Total limit is 25 lakhs for lifetime and you can use it every time you get leave salary till it is exhausted. For example- In the first leave salary that you received ₹6 lakhs was exempted. So, your limit for the subsequent leave salary will be 19 lakhs.

[@ppatil2295]

Thank you sir😊

[@zishanansari2793]

sir leave salary ka book me apka 300000 lessamoumted earlier likha hai pr isme aap 2500000 bol rhe esa ku

[@StudyAtHome]

It has been amended to 25 lakhs.

[@sujitkumarpaul9077]

Sir, leave kya dosre logo ko sell kiya ja sakta hai??

[@StudyAtHome]

No

[@spoofmixer3671]

Sir 30:07 mein upon mein 11 nahi ayega?? 30/11 ko retirement haina

[@SavitaJain-y8k]

Hn vhi m soch ri thi

[@ArvindPrajapati-f6o]

koi employee Private company me 3 year Job Karata hai or uske bad dusari company join kare tab usko 3 year ki leave salary mile to vo salary taxable hai ya exempt

[@StudyAtHome]

Exempt.

[@Sajjad-bb5nt]

Wht is the meaning of w.e.f ?

[@StudyAtHome]

With effect from

[@nripendraku]

Good morning sir

[@StudyAtHome]

Good Morning!

[@spiritualbrahmad]

Average Salary will be 43000 (i.e. 3×50000+7×40000/10

[@nripendraku]

28:58 43,000

[@ritikalather6659]

29.26 how 7 ×4000 ,why not 8mnth

[@StudyAtHome]

Because you have to take of last 10 months only.

[@ritikalather6659]

@@StudyAtHome ohk sir thanks for the answer

[@nripendraku]

3x50000+7x40000/10=43000