IFCI Infrastructure Bond Series II - Save Taxes under Section 80CCF

IFCI Long Term Infrastructure Bond Series II
ISSUE DETAILS – Salient Issue Features
Issue Period - November 16, 2010 to December 31, 2010
Rating BWA AA – by BRICKWORK RATINGS INDIA PVT LTD
Offering 2,00,000 Unsecured, Redeemable, Non – Convertible Bonds of Rs 5,000 each aggregating to Rs 100 Crores with green-shoe option to retain oversubscription for issuance of additional infrastructure bonds.
TypePrivate Placement basis
InstrumentUnsecured, Redeemable, Non-Convertible Bonds Series II having benefits under section 80CCF of the Income Tax Act, 1961 for long term infrastructure bond

Tax Benefit: Under Section 80CCF of the Income Tax Act 1961, Rs 20,000 per annum subscribed to long term infrastructure bonds shall be deducted in computing the taxable income. This is over and above Rs 1,00,000 tax benefit available under section 80C, 80CCC, & 80CCD.

Benefits as per Tax Slabs:

• Slab 10.3% - Tax Benefit 2,060
• Slab 20.6% - Tax Benefit 4,180 
• Slab 30.9% - Tax Benefit Rs 6,180

 To receive physical certificate please attach with Application Form

1. A cancelled cheque of applicant's bank account
2. Self – certified copy of PAN Card
3. Self – certified copy of proof of residence (any of the following)
4.  Ration Card issued by government authorities
5. Valid driving license issued by any transport authority of the Republic of India
6. Copy of electricity bill (not older than 3 months)
7. Valid Passport issued by Government of India
8. Valid Identity Card issued by Government of India
9. Voter Identity Card issued by Government of India
10. Passbook or latest bank statement issued by a bank operating in India

* Buyback facility available at the end of 5th, 6th, 7th, 8th, and 9th year
To download application form -http://ifciltd.com/IFCIBonds/RegisterUser/tabid/216/Default.aspx