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Investing Additional Rs.20,000/- in Tax Savings Bond u/s. 80CCF
The Income Tax Dept. has notified the Long-term infrastructure Bonds amounting Rs. 20,000/- for Tax Saving purpose. You can make the investment in any of the above Bonds as �Long-term Infrastructure Bond�
(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
The Above Rs. 20,000/- is in addition of Rs. 1,00,000/- as per Section 80C.
Now for the Financial Year 2010-11 you can make a investment up to Rs. 1,20,000/- ( Rs. 100000/- u/s 80C + Rs. 20000/- u/s 80CCF).
The copy of Press release is enclosed for your reference.
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