Dear Member PRESS RELEASE New Delhi dated 9th July 2010
Long-term Infrastructure Bonds The Central Government have specified bonds to be issued by (i) Industrial Finance Corporation of India; (ii) Life Insurance Corporation of India; (iii) Infrastructure Development Finance Company Limited; and (iv) a Non-Banking Finance Company classified as an infrastructure finance company by the Reserve Bank of India; as "Long-term Infrastructure Bond" for the purpose of section 80CCF of the Income Tax Act, 1961. Investment in these bonds up to rupees twenty thousand will be eligible for deduction from the total income of the assessee. The deduction will be in addition to the deduction of rupees one lakh allowed under sections 80C, 80CCC and 80CCD of the Act. The tenure of the Bonds shall be a minimum of ten years with a lock-in period of five years for an investor. It will be mandatory for the subscriber to furnish permanent account number to the issuer for investment in the bonds. [Notification No.48/2010 dated 9th July 2010; F.No.149/84/2010-SO(TPL)] If you wish to download the Press Release, please click on the link below: http://www.bcasonline.org/news/newsin.asp?P000868 With Best Regards SHENOY INVESTMENT AND FINANCIAL CONSULTANTS PRIVATE LIMITED 11-A, KASHI NIKETAN, 2ND ROAD, CHEMBUR, MUMBAI - 400 071 TEL : 6797 3433 / 2521 2111 EMAIL : shifc...@gmail.com shifc...@mtnl.net.in Dealing in Mutual Funds, General & Life Insurance Products, Post Office Schemes, Fixed Deposits, I.P.Os., and Capital Gains Bonds -- You received this message because you are subscribed to the Google Groups "BETTER PERSONALITY GROUP" group. To post to this group, send email to better_personal...@googlegroups.com. To unsubscribe from this group, send email to better_personality+unsubscr...@googlegroups.com. For more options, visit this group at http://groups.google.com/group/better_personality?hl=en.
