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The Central Government have specified bonds to be issued by (i) Industrial Finance Corporation of India; (ii) Life Insurance Corporation of India; (iii) Infrastructure Development Finance Company Limited; and (iv) a Non-Banking Finance Company classified as an infrastructure finance company by the Reserve Bank of India; as “Long-term Infrastructure Bond” for the purpose of section 80CCF of the Income Tax Act, 1961.

Investment in these bonds up to rupees twenty thousand will be eligible for deduction from the total income of the assessee. The deduction will be in addition to the deduction of rupees one lakh allowed under sections 80C, 80CCC and 80CCD of the Act.

The tenure of the Bonds shall be a minimum of ten years with a lock-in period of five years for an investor. It will be mandatory for the subscriber to furnish permanent account number to the issuer for investment in the bonds.

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0 Comments

  1. Suraj Nair says:

    Thank you for providing the knowledge of Insurance & Finance. I also know one insurance agent Mr. Suresh Kumar, he is having more than 22 year of knowledge in the insurance sector. Now I am able to earn more than what I was earning before.

  2. Puneinvest says:

    are you interested to do infra bond business mail me. I can help you.
    If any other agent want to post their contact detail on my blog send me details with your location & Name. I am trying to add you in my all over India Infra bond broker list.

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