Hi,
I resigned from a company where I had been working for last 11 months. Due to the service agreement I had to pay Rs.2.5 lacs as bond amount where my actual in hand salary from the company during the the period was alomost equal to this amount.
Now, My question is whether I can show it as exp. in my Income tax return of this year or else I have to pay tax on the amount which has been refunded by me to company. If I can show it as exp. then tell me the procedure.
Please help me out as big amount is involved.
CAclubindia
