- This bonds will be called “Long Term Infrastructure Bond”
- Application can be by individual or HUF only but not by minor through Guardians.
- An Individual or HUF can invest Rs. 20,000/- in a Financial year to avail deduction under section 80CCF
- Rs. 20000/- limit is in addition to 100000/- limit of section 80C, 80CCC, 80CCD
- Tenure of the Bonds will be 10 Years.
- Lock-in period is 5 years, after 5 years investor can withdraw money from the bonds
- After lock-in period, Investor can take loan against these Bonds.
- Self attested PAN copy of 1st holder is compulsory.
- Bonds are not tax free. Interest is taxable in the hands of investor. But no TDS will be deducted from interest.
- Demat is compulsory. Joint holders can apply as per same order of Demat a/c . Application without demat a/c details will be rejected.
- Minimum Application amount is Rs 5000/- & multiples there off for each option.
- Maximum benefit to an investor shall be Rs. 20,000/- under section 80CCF of the Income Tax Act, 1942
Thursday, September 30, 2010
Long Term Infrastructure Bonds
Union Finance Minister Pranab Mukherjee had announced a new tax deduction (Section 80CCF) of 20,000 INR for investment made into special infrastructure related bonds in 2010-11 budget. Some of the key feaures and notification are as follow:
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Monday, September 13, 2010
Fixed Deposits Interest rate comparison
Updated Regularly - Latest, recent
Banks started increasing Interest Rates on the fixed deposits again. Most of them are already effective if you open a new one. Here are the links to have a quick view:
Other Sources: http://www.maduraidirectory.com/bandf/interest.php
Banks started increasing Interest Rates on the fixed deposits again. Most of them are already effective if you open a new one. Here are the links to have a quick view:
- SBI
- HDFC
- Axis
- ICICI
- Kotak Mahindra
- HSBC
- Citibank
- Standard Chartered
- IDBI
- Corporation Bank
- Syndicate Bank
- PNB Banks
- seems to be giving the highest interest as of now.
Other Sources: http://www.maduraidirectory.com/bandf/interest.php
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Punjab National Bank,
sbi,
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state bank of india,
Syndicate
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