Payment of Bond amount to employer
This query is : Resolved
Parixit Namdhar
(Querist)
28 July 2009
in F.Y. 2008-2009 one person quits his jon in May 08 and he paid Rs. 50,000 as bond amount to his employer through his account at that time and joined a new company. He received around 80,000 bugs during his two month employment with his earlier employer. Is he can claim his payments towards bond against his taxable salary income?
M Prabhakar Menon
(Expert)
28 July 2009
No there is no provision in the present Income Tax Act for claiming such payments
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