Investment Upto Rs. 20000/- In Longterm Infrastructure Bonds Allowed As Deduction U/S 80ccf Of Income Tax Act 1961

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..... Investment Upto Rs. 20000/- In Longterm Infrastructure Bonds Allowed As Deduction U/S 80ccf Of Income Tax Act 1961 - News and Press Release Dated:- 3-8-2010 - News - I ncome T ax Act, 1961 .....

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..... The Finance Act, 2010 has inserted a new section 80CCF in the Income Tax Act, 1961, which provides that an amount upto the extent of Rs. 20,000/- paid or deposited during the financial years 2010- .....

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..... 11 as subscription to long-term infrastructure bonds shall be allowed as deduction in computing the income of an individual or a Hindu Undivided Family. The deduction will be over and above the existi .....

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..... ng overall limit of Rs. 1,00,000/- available under section 80C, 80CCC and 80CCD of the said Act on savings and other prescribed investments. This amendment takes effect from 1.4.2011 and is applicable .....

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..... for the subscriptions to eligible/notified infrastructure bonds made during the Financial Year 2010-11. Consequent to this amendment, 'long-term infrastructure bonds' have been notified vide Depart .....

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..... ment of Revenue, Central Board of Direct Taxes, notification No. 48/2010 [S.O. 1639 (E)] dated 9.7.2010, specifying the details such as the tenure, interest rate, agencies which can issue the bonds, e .....

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..... tc. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to an Unstarred Question in Rajya Sabha today. - News - Press release - PIB Tax Managem .....

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..... ent India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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