If an employee leaves in the middle of year,then first slab tax exemption of Rs 1.50 lac is given in full ?



If an employee leaves in middle of year, then the income tax exemtion of first slab , Rs 1.50 lac, is to be given in full or proportionately ?Similarly what about the saving limit u/s 80C? Complete saving limit of Rs 1 lac can be given or again it should be proportionately.

If an employee leaves in the middle of year,then first slab tax exemption of Rs 1.50 lac is given in full ?
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5 Replies to “If an employee leaves in the middle of year,then first slab tax exemption of Rs 1.50 lac is given in full ?”

  1. You get the complete saving limit of 1 lakh, since it covers the complete financial year. So in the first year, you end up paying less tax (or perhaps no tax at all)




  2. Taxable income is your earning during the year, It does not matter you earned it during the whole year or part of it. If you are employed for six months only and not earning any thing for remaining six months. First six months income will be your income for the whole year.


  3. hi dude….the government is not bothered with your work attendence …. ( juz 1 month or whole year ) .they are only concerned with how much u hav earned in a financial year ok………………..





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