Name Mr.

Retired
Dept: IT
Location: Mumbai
a. Completed Years of Services
b. Earned / Paid leaves allowed per year
c. Leave Taken & encashed during total tenure of service.
Leave Balance
Leave Encashment Entitled Days. (a x 30-c)

Computation of Taxable Leave Encashment

Sl. No. Particulars
Leave encashment received
Exemption u/s 10(10AA) – lower of following
1 Actual amount received as leave salary
2 Max. amount exempt under Gratuity Act - Rs. 3,00,000/-
3 10 * Average salary p.m.
4 To the maximum of 30 days average salary for every completed year
of service, subject to deduction for actual leave availed during the
tenure of service. (see note2)
Lower of (1),(2),(3) and (4) above
Taxable Leave Encashment

Notes:
1 While calculating completed year of service, we have ignore any fraction of the year.
Find out how many days of leave are credited for each year of service in the name of
employee. Earned leave entitlements cannot exceed 30 days for every year of actual serv
2 rendered by the employee. For instance, if earned leave is credited at the rate of 40 days leave
each year of service, for the purpose of calculation, the same shall be made at the rate of 30 d
leave for each year of service. If however, earned leave is credited at the rate of 25 days leave
each year of service, the calculation shall be made at the rate of 25 days leave for each yea
service.
 Emp ID: ABC1111
DOJ: 20-Nov-07
DOR: 3-Sep-12 Month Basic + Da +Comm % of Sales
: 4 1-Nov-11 30000
: 40 This 1-Dec-11 30000
97 amount 1-Jan-12 30000
should
: 63 match 1-Feb-12 30000
with leave
23 encashed
1-Mar-12 30000
& taken 1-Apr-12 33000
during the
year 1-May-12 33000
(in Rs. ) 1-Jun-12 33000
66,150 1-Jul-12 33000
1-Aug-12 33000
66,150 Avg Salary 31500
300,000
315,000

24,150

24,150
42,000

any fraction of the year.

year of service in the name of the
ays for every year of actual service
edited at the rate of 40 days leave for
shall be made at the rate of 30 days
edited at the rate of 25 days leave for
ate of 25 days leave for each year of
Only fill cell marked yellow
password to unprotect sheet is 123