Income from salary

anoop (CA Final student) (165 Points)

02 July 2009  

One of our clients who worked in ICICI Bank had resigned on 22.11.2008.he was required to serve a notice of 90 days before resignation.however he failed to serve the notice and was therefore required to pay a compensation of Rs.1,00,000.00 to  the Bank.This compensation is not mentioned in his Form 16.My question is whether this compensation paid is deductible from his Salary income for the A.Y. 2009-10.