Tax Saving Infrastructure Bonds 2010-2011
The finance minister gave a tax bonanza to individuals in budget of February 2010. A new section 80CCF was introduced to Income Tax Act, 1961. Under this section notified infrastructure bonds will give tax exemption up to Rs 20,000.
Investors who have not taken benefit of section 80CCF can invest in such bonds and save taxes approx. up to Rs 6000 in taxes.
- The Bond can be bought both in Physical & DMAT form. Buying the in DMAT form is a better option as it’s hassle free.
- Interest Frequency : Annual or Cumulative. (You may opt for the option you like)
Features of Bond:
- Minimum Investment Two Bonds in multiple of one bond thereafter, maximum no limit.
- Deduction U/S 80CCF of Rs 20000.00 addition to Rs 100000.00 in 80C
- Interest rate 8.00 – 9.00%
- Buy back facility available after 5 years.
- Available in both Physical and Demat Mode
Documents:
For Demat Mode : Pan Card Copy only.
For Physical Mode: (All documents are self attested.)
- Pan Card Copy
- Address Proof
- Copy of Cheque or Cancel cheque of the bank account to which the amounts pertaining to payment of refunds, interest and redemption as applicable should be credited.
To know more send in ur query at sales@sureshrathi.in or info@sureshrathi.in
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