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Taxman capped LIC retiree's leave pay exemption at Rs 3L; ITAT allows Rs 9.04L
Confidence78·developingImportance88NP-EVT-20261016-84BE2ED
A woman retired from Life Insurance Corporation of India (LIC) on June 30, 2020 after more than 30 years of service. She received Rs 9.04 lakh as leave encashment, in addition to her other retirement benefits. While filing her income tax return (ITR), she claimed a tax exemption on the entire leave encashment amount.
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Taxman capped LIC retiree's leave pay exemption at Rs 3L; ITAT allows Rs 9.04L
TOI BUSINESS DESK · 10/16/2026, 4:33:38 AM
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