Section 80CCF

Deduction under section 80C and Tax Planning

Income Tax - Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 80C has become effective w.e.f. 1st April, 2006. Even the section 80CCC on pension scheme contributions was merged with the above 80C. However, this new section has allowed a major change in the method of prov...

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Income Tax Deductions for A.Y. 2014-15/ 2015-16 for Salaried

Income Tax - The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former ar...

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Tax benefits from Investment in Mutual Funds

Income Tax - Let me begin by describing the meaning of a Mutual Fund. It is a financial product that pools money of different individuals and invests on their behalf into various assets such as equity, debt or gold as per the objective of the scheme. Based upon the investor’s financial goals and risk appetite, there are several funds to choose from....

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Income Tax deductions for A.Y. 2013-14 / FY 2012-13

Income Tax - DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, DEFERRED ANNUITY, CONTRIBUTIONS TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY SHARES OR DEBENTURES, ETC. [SEC. 80C, APPLICABLE FROM THE ASSESSMENT YEAR 2006-07] - SECTION 80C 1. Under section 80C, deduction would be available from gross total income. 2. Only an individual or a Hindu und...

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Budget 2012- Burning Issues In Direct Taxes

Income Tax - The deduction of Rs. 20000 under Section 80CCF for investment in infrastructure bonds was extended to A.Y. 2012-13 in last year budget to promote investment in infrastructure sector for its growth and development. But this time Mr. FM was silent on its continuance or otherwise. The lack of clarity on its scraping is a major concern. Vie...

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Banks suggest reintroduction of deduction u/s. 80CCF & increase in 194A TDS limit

Income Tax - Interest amount for the purpose of TDS be increased from Rs. 10,000/- to Rs. 25,000/- on fixed term deposits with banks, tax exemption of Rs. 20,000/- under section 80CCF for investing in Infrastructure Tax Free Bonds be reintroduced, bringing more transparency in gold and real estate transactions at par with equity transactions, to bring...

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Section 80CCF – Salient Features of L&T Infra Long Term Infrastructure Bonds 2012A Series

Income Tax - The Indian economy is on a robust growth trajectory and the best way to be a part of India’s growth story is to invest in its lifeline – its infrastructure. L&T Infrastructure Finance Company Ltd. has played an important role in financing projects, funded through long term investment instruments for Infrastructure development and cons...

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IFCI to raise over Rs 100 crore via tax-saving infra bonds

Income Tax - IFCI is in the process of raising more than Rs 100 crore from tax saving infrastructure bonds to fund infra projects. According to the offer document, the issue comprises of Rs 100 crore plus unspecified green shoe option. These bonds are of two maturities - 10 years with coupon of 9.09% and 15 years with coupon of 9.16%, it said....

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IDFC demands hike in income tax deduction limit u/s. 80CCF for infrastructure bonds

Income Tax - Infrastructure Development Finance Company (IDFC) today demanded that the Government raise the income tax-saving cap of Rs 20,000 for more retail participation in infrastructure funding. At present, subscription to long-term infrastructure bonds by an individual or Hindu Undivided Family (HUF) not exceeding Rs 20,000 in a fiscal year is ...

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IIFCL Infrastructure Bonds-Deduction U/s. 80CCF for investment in Long Term Infrastructure Bond

Income Tax - The state-owned Indian Infrastructure Finance Company Limited (IIFCL), is offering an unique feature for investors in its current infrastructure bond offering that allows an applicant to choose apply for five bonds of the same series or five Bonds ac...

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Notification No. 77/2010-Income Tax Dated 11/10/2010

Notification No. 77/2010-Income Tax - (11/10/2010) - Notification No. 77/2010-Income Tax In exercise of the powers conferred by section 80CCF of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following bonds that shall be subject to the following conditions, as long-term infrastructure bonds for the purposes of the s...

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Govt notifies deduction u/s. 80CCF on long-term infrastructure bonds

Notification No. 48/2010-Income Tax - (09/07/2010) - Notification No. 48/2010-Income Tax In exercise of the powers conferred by section 80CCF of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies bonds, subject to the following conditions, as long-term infrastructure bonds for the purposes of the said section namely :-...

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Recent Posts in "Section 80CCF"

Deduction under section 80C and Tax Planning

Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 80C has become effective w.e.f. 1st April, 2006. Even the section 80CCC on pension scheme contributions was merged with the above 80C. However, this new section has allowed a major change in the method of prov...

Read More
Posted Under: Income Tax | ,

Income Tax Deductions for A.Y. 2014-15/ 2015-16 for Salaried

The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former ar...

Read More
Posted Under: Income Tax |

Tax benefits from Investment in Mutual Funds

Let me begin by describing the meaning of a Mutual Fund. It is a financial product that pools money of different individuals and invests on their behalf into various assets such as equity, debt or gold as per the objective of the scheme. Based upon the investor’s financial goals and risk appetite, there are several funds to choose from....

Read More
Posted Under: Income Tax |

Income Tax deductions for A.Y. 2013-14 / FY 2012-13

DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, DEFERRED ANNUITY, CONTRIBUTIONS TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY SHARES OR DEBENTURES, ETC. [SEC. 80C, APPLICABLE FROM THE ASSESSMENT YEAR 2006-07] - SECTION 80C 1. Under section 80C, deduction would be available from gross total income. 2. Only an individual or a Hindu und...

Read More
Posted Under: Income Tax | ,

Banks suggest reintroduction of deduction u/s. 80CCF & increase in 194A TDS limit

Interest amount for the purpose of TDS be increased from Rs. 10,000/- to Rs. 25,000/- on fixed term deposits with banks, tax exemption of Rs. 20,000/- under section 80CCF for investing in Infrastructure Tax Free Bonds be reintroduced, bringing more transparency in gold and real estate transactions at par with equity transactions, to bring...

Read More
Posted Under: Income Tax |

Budget 2012- Burning Issues In Direct Taxes

The deduction of Rs. 20000 under Section 80CCF for investment in infrastructure bonds was extended to A.Y. 2012-13 in last year budget to promote investment in infrastructure sector for its growth and development. But this time Mr. FM was silent on its continuance or otherwise. The lack of clarity on its scraping is a major concern. Vie...

Read More
Posted Under: Income Tax |

Time to Invest Big in Infrastructure – Infrastructure Bonds

Mr. Suneet Maheshwari, CEO of L&T Infrastructure Finance Company Limited which opened Tranche 2 of its tax saving infra bonds, expects huge infrastructure investments in India over the next 5 years . While highlighting the strong future prospects of infrastructure sector in India, he said that Infrastructure bonds are a boon to the econom...

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Posted Under: Income Tax |

Section 80CCF – Long Term Infrastructure Bonds – Srei Infrastructure Finance Ltd.

issue of Long Term Infrastructure Bonds by Srei Infrastructure Finance Limited - Issue of first tranche of infrastructure bonds (Bonds) by the Company under Section 80CCF of the Income Tax Act, 1961. Resident individuals and HUFs eligible for deduction of up to Rs 20,000 in computation of taxable income for the current financial yea...

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Posted Under: Income Tax |

PFS Long Term Infrastructure Bond: Tax Benefits and issue details

PTC India Financial Services Ltd. (PFS) has launched infrastructure bonds in the name as PFS Long Term Infrastructure Bond – Series 2, under section 80CCF of face value of Rs. 5000/- each to remain open till February 29, 2012 for subscription. ...

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Posted Under: Income Tax |

Section 80CCF – Salient Features of L&T Infra Long Term Infrastructure Bonds 2012A Series

The Indian economy is on a robust growth trajectory and the best way to be a part of India’s growth story is to invest in its lifeline – its infrastructure. L&T Infrastructure Finance Company Ltd. has played an important role in financing projects, funded through long term investment instruments for Infrastructure development and cons...

Read More
Posted Under: Income Tax |
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