meaning of

[avillezm]

no good deed goes undone

[woofgang]

I have heard it as "no good deed goes unpunished"

[woofgang]

and Clare Booth Luce said it

http://www.brainyquote.com/quotes/quotes/c/clarebooth125511.html

[Quizmonster]

As for the meaning...
The expected saying might be 'No good deed goes unrewarded', as we all imagine we'll be treated well if we deal with others nicely. However, the suggestion behind the words is much the same as we find when we hear 'A friend in need is a pest' rather than the usual 'A friend in need is a friend indeed.'
The whole point is to make us stop short and rethink what we're saying in light of the fact that things might turn out exactly the opposite of what we imagine. Perhaps giving money to a local beggar will result in his pestering you for more forever afterwards, for example. Thus you're punished for the original good deed.