Tax Exemptions on Leave Encashment and F&O Losses

The article discusses various tax-related queries.

Deepak Rawat wants to know about tax-free leave encashment upon retirement.

Non-government employees can encash up to 30 days of leave per year, tax-free up to Rs 25 lakh.

Government employees get full tax exemption.

Sunil Kumar Saini asks about setting off F&O losses against equity gains.

F&O losses can be set off against other income except salary, but must be declared as business income.

Manish Kumar inquires about the taxability of cash allowances for meeting sales targets.

Such allowances are fully taxable.

The article also advises on the importance of consulting a tax professional for accurate compliance.