bonds u/s 80CCF

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HAPPY JINDAL (Querist)
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20 December 2010 dear sir, i want to know which financial corporations have issued infrastructure bonds to claim deduction u/s 80CCF of addtional Rs. 20000. whether LIC is also issued its infrastructuer bonds u/s 80CCF, if yes, please tell me detail of lic infrasturcture bonds, how i can take that bonds. thanx

CA Sanat Pyne

CA Sanat Pyne (Expert)
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20 December 2010 Till now LIC has not yet issued any infrastrusture bond.
IDFC,IFCI AND L & T has already issued infrastructure bond.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 December 2010

LIC Infrastructure Bond at Glance:

Term: 10 years
Minimum lock in period: 5 years
Loan on Bond: After 5 years
Interest Rate: 7.85%-7.95% after tax.
Exit options: Buy back or through Demat account
Open for Individual or HUF.
Any individual or HUF can invest in LIC’s Infrastructure Bonds Between Rs.5000 – Rs.20,000/- This will be over the Rs.1 lakh deduction allowed under Section 80C.

Other Infrastructure bonds:-

1)Industrial Finance Corporation of India (IFCI),
2)Infrastructure Development Finance Company (IDFC).

CA Sanat Pyne

CA Sanat Pyne (Expert)
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20 December 2010 But Sir, Till now lic has not yet issued any infrastructure bond for the year 2010-11.
If I am wrong Please clarify..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 December 2010 Sir
Pl see the link https://www.licofindiainsurance.com/tag/80ccf/

CA Sanat Pyne

CA Sanat Pyne (Expert)
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20 December 2010 Sir, i have already seen that. but nowhere is mentioned the date of issue.
So far as I know It will come in the market in the month of January 2011.

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