Can employee can claim deduction under the head of "Income from Salary" for " payment made by employee to Employer for not serving Notice period as per HR policy on resignation ?????
DETAILS:-
1) FY: 2015-16
2) D.O.Resignation : 15th May 2015
3) Salary from 01 Apr 15 to 15th May 15 =29,325/-
4) other (bonus + annual payment) received by employee on resignation = 17,719/-
5) payment made by employee to employer for not serving 45 days notice period after submitting resignation letter on 10th may 2015 (discontinued from 16th May 2015):- 34,245/-
6) from 16th May 2015 employee joined new organisation (still working) & earn salary income of rs. 3,47,883/-
Q1 :- Can employee can claim deduction of Rs.34245/- under head 'income from Salary" while calculating income tax ?
Q2 :- If No, than why not?
CAclubindia
