French courtroom drama 'Anatomy of a Fall' wins Palme d’Or, top prize of Cannes Film Festival

French courtroom drama 'Anatomy of a Fall' wins Palme d’Or, top prize of Cannes Film Festival

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Texas House launches historic impeachment proceedings against GOP Attorney General Ken Paxton; vote expected in hours

Texas House launches historic impeachment proceedings against GOP Attorney General Ken Paxton; vote expected in hours

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Texas Attorney General Ken Paxton rallies supporters to peacefully protest impeachment proceedings at Capitol

Texas Attorney General Ken Paxton rallies supporters to peacefully protest impeachment proceedings at Capitol

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Yellen extends projected 'X-date' for federal default to June 5, says inaction would 'cause severe hardship'

Yellen extends projected 'X-date' for federal default to June 5, says inaction would 'cause severe hardship'

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Brian Laundrie's mom said in letter she would help son 'dispose of a body'

An undated letter from the mother of the man who killed Gabby Petito to her son will be allowed as possible evidence in a lawsuit Petito’s parents have filed against the parents of her killer

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Texas grand jury indicts man in fatal shooting of rapper Takeoff

Court records say a man has been indicted on a murder charge in the shooting of Migos rapper Takeoff last year outside a Houston bowling alley

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Defense secretary tells Navy graduates they are ready to serve

Defense Secretary Lloyd Austin says the leadership of new U.S. Naval Academy graduates will be at the center of American efforts for a more peaceful future

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Oklahoma Legislature overrides governor's veto of tribal regalia bill

The Oklahoma Legislature has overridden Gov. Kevin Stitt's veto of a bill that would allow students to wear Native American regalia during high school and college graduations

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Victims' families settle wrongful death suit against quadruple killer, his parents

The families of four young men killed and buried on a Pennsylvania farm have settled their wrongful-death lawsuits against the man who confessed in the killings and his parents

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US sanctions head of Russia's Wagner Group in Mali, accused of arms trafficking for Ukraine fight

The U.S. is imposing sanctions on the leader of Russia's Wagner paramilitary group in Mali

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On 3rd anniversary of George Floyd's death, Biden stops GOP-led effort to block DC police reform law

President Joe Biden on Thursday - the third anniversary of George Floyd’s murder - vetoed an effort led by congressional Republicans to overturn new District of Columbia law on improving police accountability

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Tax-Free Leave Encashment Limit After Retirement Raised To Rs 25 lakh

In line with the Budget announcement, the finance ministry on Thursday hiked the tax exemption limit for leave encashment upon retirement for private sector salaried employees to Rs 25 lakh.

So far, the tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed in 2002, when the highest basic pay in the government was Rs 30,000 per month.

The Central Board of Direct Taxes (CBDT), in a statement, said the aggregate amount exempt from income tax under section 10(10AA)(ii) shall not exceed the limit of Rs 25 lakh, where any such payments are received by a non-government employee from more than one employer.

The increased limit for tax exemption on leave encashment on retirement or otherwise of non-government salaried employees to Rs 25 lakh with effect from April 1, 2023.

"In pursuance to the proposal in the Budget speech, 2023,... the central government has notified the increased limit for tax exemption on leave encashment on retirement or otherwise of non-government salaried employees to Rs 25 lakh w.e.f. 01.04.2023," the CBDT said.

In 2023-24 Budget, finance minister Nirmala Sitharaman had increased the tax exemption on leave encashment on retirement of non-government salaried employees to Rs 25 lakh, from Rs 3 lakh.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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2 North Carolina state legislators lose leadership roles after remarks

Two North Carolina state House Republicans have lost their caucus leadership positions after recent comments directed at Democratic colleagues questioning their religion and educational attainment

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