Reader Subrata asks:
Is leave encashment on superannuation taxable? I’m nearing retirement and would have accumulated 300-days of leave.
I have absolutely no clue on this topic (and I can’t remember the last time I accumulated leave). Therefore, I thought I’d open it up for a wider audience right away.
Do you know the answer?
Leave encashment is taxable, I have been encashing my leaves for past few years and it is added as one more earning to the tax calculation.