CBDT increases tax exemption limit on leave encashment for non-govt salaried employees to Rs 25 lakh

The Central Board of Direct Taxes has issued a notification to increase the limit for tax exemption on leave encashment for non-government salaried employees to 25 lakh rupees. The tax exemption on leave encashment of non-government salaried employees was earlier up to a limit of three lakh rupees under the Income-tax Act.