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Income tax

This query is : Resolved 
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(Querist)
05 March 2014 AN CENTRAL GOVT. EMPLOYEE AT THE TIME OF LEAVING HIS JOB PAID TO EMPLOYER ONE MONTH'S SALARY AND BOND AMOUNT, AS PER HIS TERM OF EMPLOYMENT. WHETHER THE SALARY AMOUNT AND BOND AMOUNT PAID BY HIM WILL BE DEDUCTED FROM HIS GROSS SALARY INCOME.WHETER BOND AMOUNT PAID BY EMPLOYEE TO HIS EMPLOYER IS ALLOWABLE AS DEDUCTION FORM SALARY INCOME.
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Pratik

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Pratik (Expert)
06 March 2014 Hi Rajesh,

There shall be no deduction allowed on this amount....!!!!!

As it private placement of money for breach of contract
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Rupesh Jain

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Rupesh Jain (Expert)
10 March 2014 no deduction allowed in income tax.
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