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.
Type Private Placement basis Instrument Unsecured, 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