Income from salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2012 If any employee pays any amount whcih has been written in the bond , then while computing the salary income , will the amount be allowed as deduction ?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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22 September 2012
That Cant be Allowed as Deduction.

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ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Expert)
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22 September 2012 Payment for Bond is not eligible for deduction while calculating taxable -income.

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Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2012 Ok thanx to you both , in one of my friend case what happened is , she was employed by a bank at the salary of Rs. 75000 per month . She worked there for 4 months.

After that she was transferred to mumbai.

She left the employement and had to pay Rs. 360000 as Bond amount.

Now she has earned Rs. 300000 bt had to pay Rs. 360000 . So is this Rs. 300000 taxable ?

Or is there any remedy available ?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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24 September 2012 You are Asking for Breaking of Bonds Agreements..
This is Not Allowable.

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