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Income Tax : Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 8...
Income Tax : The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the h...
Income Tax : DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, DEFERRED ANNUITY, CONTRIBUTIONS TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY S...
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 bu...
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 exemp...
Income Tax : The Indian economy is on a robust growth trajectory and the best way to be a part of Indias growth story is to invest in its lifel...
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...
Income Tax : Infrastructure Development Finance Company (IDFC) today demanded that the Government raise the income tax-saving cap of Rs 20,000 ...
Income Tax : The state-owned Indian Infrastructure Finance Company Limited (IIFCL), is offering an unique feature for investors in its current ...
Income Tax : Notification No. 77/2010-Income Tax In exercise of the powers conferred by section 80CCF of the Income Tax Act, 1961 (43 of 1961),...
Income Tax : Notification No. 48/2010-Income Tax In exercise of the powers conferred by section 80CCF of the Income-tax Act, 1961 (43 of 1961),...
Infrastructure Development Finance Company Limited (IDFC) has announced a public issue of its second tranche of secured, redeemable, long term infrastructure bonds having tax benefits under Section 80CCF of the Income Tax Act, 1961
On the proposed Rs 1,200-crore tax-free infra bonds issue, he said, within the next three days they will hit the market with an ad for this. By January, the first tranche of Rs 400 crore will hit the streets. It will raise the remaining Rs 800 crore
Under Section 80CCF, any individual or Hindu undivided family can invest up to Rs 20,000 in infrastructure bonds and avail of tax benefits. This will be over the Rs 1-lakh deduction allowed under Section 80C. So, an investor in the tax bracket of 30
In 2010 Budget, infrastructure bonds were announced as one of the tax saving options to assessees whereby under section 80CCF of the Indian Income tax Act, investment upto Rs 20,000 in notified infrastructure bonds was allowed tax benefit by way of reduction from total taxable income. This is over and above Rs one lakh tax benefit available under sections 80C, 80CCC and 80 CCD.
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 said section
In the Union Budget 2010, Finance Minister, Pranab Mukherjee proposed a new section 80CCF under the Income Tax Act of 1961. From financial year 2010-11, section 80CCF would provide an additional tax deduction, over and above the existing 80C deductio
Infrastructure Development Finance Company (IDFC), an integrated infrastructure finance company, has launched infrastructure bonds, giving a tax deduction of up to Rs 20,000 under Section 80CCF. The tax deduction will be above Rs 1,00,000 under Secti
The country’s largest insurer, Life Insurance Corporation, plans to approach sector regulator IRDA in the next 8-10 days to get approval for floating infrastructure bonds.
These bonds can be issued by entities such as LIC , IDFC, IFCI or any other NBFC as classified by the RBI. Earlier in September, IFCI had issued these bonds on a private placement basis. Now, IDFC has decided to offer the first tranche of these bonds
IDFC is coming out with the country’s first ever public issue of infrastructure bonds through which the lender expects to mop up Rs 3,400 crore. The issue would open on September 30 and closes on October 18. It is the first public issue of bonds by an infrastructure finance company under Sec 80CCF of the Income Tax Act that allows tax benefits for investment in long-term infrastructure bonds. The bond issue proceed would be utilised to finance the infrastructure projects in the country.
