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TMI BlogDeduction in respect of subscription to long-term infrastructure Finance bonds under Section 80CCF of the Income Tax Act, 1961X X X X Extracts X X X X X X X X Extracts X X X X ..... Deduction in respect of subscription to long-term infrastructure Finance bonds under Section 80CCF of the Income Tax Act, 1961 X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the Central Government, vide Notification No.48/2010/F.No. 149/84/2010-SO (TPL) dated July 09, 2010, has specified certain bonds as long term infrastructure bonds for the purposes of Section 80 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CCF of Income Tax Act, 1961 viz, bonds issued by Industrial Finance Corporation of India, Life Insurance Corporation, Infrastructure Development Finance Company and a Non-Banking Finance Company class ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified as an Infrastructure Finance Company by the Reserve Bank of India. 2. It is accordingly advised that amount raised by issue of infrastructure bonds by Infrastructure Finance Companies, as speci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fied in the notification issued from time to time by the Central Government under Section 80CCF of the Income Tax Act, 1961, shall not be treated as 'public deposit' within the meaning of paragraph 2( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998. 3. Notification issued in this regard, DNBS (PD) Notification No.216 (US)/2010 dated Oct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ober 22, 2010, amending the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, is enclosed. X X X X Extracts X X X X X X X X Extracts X X X X
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