There is no clause availabe on t-sql. But in oracle it is available:

Oracle:
 
ALTER TABLE tblname
RENAME COLUMN oldcol TO newcol

In, t-sql (MS SQL) you can use the internal stored procedure:

sp_rename

The syntax is:

 
sp_rename [@objname =] ‘object_name’, 
    [@newname =] ‘new_name’ 
    [, [@objtype =] ‘object_type’]

For more information, see : http://doc.ddart.net/mssql/sql70/sp_ra-rz_11.htm