Tax Saving by Investment in 80 CCF

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2011 Since we are in 2nd last week of end of FY 2010-11, I need to invest on urgent basis in Infrastructure Bonds u/s 80ccf to save my tax to the extent of 4000/-.Kindly help me out in this respect, Please give me contact no where I Can get help & Complete formalaities of Investment.

BALASUBRAMANYA B N

BALASUBRAMANYA B N

(Expert)
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21 March 2011 Public sector undertaking, Rural Electrification Corporation (REC), has launched its Long Term Infrastructure Bonds. These bonds offer a tax benefit under section 80CCF. Investments in long term infrastructure bonds provide investors a maximum tax exemption limit of Rs. 20,000 under section 80CCF, over and above what is available under section 80C

Rural Electrification Corporation was recently categorized as an Infrastructure Finance Company by the Reserve Bank of India. With its public issue of infrastructure bonds, the company plans to raise Rs 50 crores. The issue has a greenshoe option, in case of over-subscripttion, to issue additional bonds. The bond issue opened on 12th January 2011 and would be available for subscripttion till 28th March 2011.