Leave encashment at the time of superannuation must be totally tax free

Sec.10(10AA) of Income Tax Act, 1961 must be amended

Leave Encashment amount received at the time of retirement/ superannuation must be made 'TOTALLY TAX FREE', for the employees of Public Sector Banks too.  Now, this benefit is available only to Government (Central/State) employees. 

As a first step in this direction, the present limit of Rs.3 Lakhs fixed 22 Years ago (i.e. in 1998) must be immediately enhanced to Rs.16 Lakhs.