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Payment of Bond amount to employer

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(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?
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M Prabhakar Menon

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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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