Wednesday, 2 July 2014

Deductions on Investment in Long Term Infrastructure Bonds [REMOVED]

Deductions on Investment in Long Term Infrastructure Bonds [REMOVED]

Section 80CCF: Investment in Long Term Infrastructure Bonds

This section is no longer valid from AY 2012-13 anymore
Investments in Long Term Infrastructure Bonds issued by Industrial Finance Corporation of India, LIC, Infrastructure Development Finance Company Limited or a Non-Banking Finance Company classified as an Infrastructure Finance Company by RBI with a minimum tenure of 10 years and Lock in period of 5 years. Maximum amount of deduction available is Rs. 20,000/- The deduction is over and above the combined deduction of Rs. 100,000/- available under section 80C, 80CCC and 80DDD. The benefits under this section were extended by one year in the Budget 2011 but the same has not been done in this Budget. Therefore, the deduction under this section shall not be available for AY 2013-14.

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