Verification code 648ef9
IIFCL Tax Savings Infra Bond issue opens on 4th Feb
The Issue will open for subscription from Friday, February 4, 2011, and will close on Friday, March 4, 2011, or on such earlier date or extended date, as may be decided by the Board.
80CCF tax benefits: The Bonds are classified as "long term infrastructure bonds" and are being issued in terms of section 80CCF of the Income Tax Act, 1961. In terms of the notification of Section 80CCF, an amount, not exceeding Rs. 20,000 per annum, paid or deposited as subscription to long term infrastructure bonds during the previous year relevant to the assessment year beginning April 01, 2011, shall be deducted in computing the taxable income of a resident individual or Hindu Undivided Family (HUF). In the event that any applicant applies for the bonds in excess of Rs. 20,000 per annum, the aforestated tax benefit shall be available to such applicant only to the extent of Rs. 20,000 per annum.