Has RBI issued any notification on issue of Infrastructure Bonds? How funds can be raised -modalities, terms and conditions thereto??
CSAnkita Arora
(Company Secretary)
(65 Points)
Replied 17 May 2012
Hello Govind,
In FY-2010, Infrastructure Bonds, investment under this scheme any person can invest upto Rs. 20,000 on which no tax will be imposed. Total saving of Rs.1,20,000 as Rs. 20,000 is the additional saving.
In budget 2012, Tax Benefit on Infrastructure Bonds is no longer available from 1st April, 2012 onwards. The benefit was avialable for the FY-2010-11 & 2011-12.
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