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Encashment of earned leave on retirement refers to the payment received by an employee for the accumulated leave days that remain unused at the time of retirement. Under the Income Tax Act, 1961, such payments are treated as income under the head “Salaries.” However, tax exemption is available under Section 10(10AA), depending on whether the employee belongs to the _______ ________ _________ ______ ___ __________ __________ ________ ___ _________ _______ ___.
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