20 December 2010
dear sir, i want to know which financial corporations have issued infrastructure bonds to claim deduction u/s 80CCF of addtional Rs. 20000. whether LIC is also issued its infrastructuer bonds u/s 80CCF, if yes, please tell me detail of lic infrasturcture bonds, how i can take that bonds. thanx
Term: 10 years Minimum lock in period: 5 years Loan on Bond: After 5 years Interest Rate: 7.85%-7.95% after tax. Exit options: Buy back or through Demat account Open for Individual or HUF. Any individual or HUF can invest in LIC’s Infrastructure Bonds Between Rs.5000 – Rs.20,000/- This will be over the Rs.1 lakh deduction allowed under Section 80C.
Other Infrastructure bonds:-
1)Industrial Finance Corporation of India (IFCI), 2)Infrastructure Development Finance Company (IDFC).
20 December 2010
Sir, i have already seen that. but nowhere is mentioned the date of issue. So far as I know It will come in the market in the month of January 2011.
CAclubindia
