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Bond amount paid at the time of resignation

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(Querist)
15 March 2012 Query:
Suppose Mr. x paid bond amount of Rs. 1 lac at the time of resignation from a company. Now whether it can be reduced from salary income at the time of calculation of tax liability of Mr. X?

Thanks in advance.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 July 2013 No exemption/deduction from salary since it is an application of the income.

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