The Finance Act2010 introduced a new deduction u/s 80CCF for deduction up to the extent of Rs 20,000 for investment in specified infratrcuture bonds. now the government has approved plans of LIC and certain other finance companies for issue of infrastructure bonds . The section 80CCF is
80CCF. In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, the whole of the amount, to the extent such amount does not exceed twenty thousand rupees, paid or deposited, during the previous year relevant to the assessment year beginning on the 1st day of April, 2011, as subscripttion to long-term infrastructure bonds as may, for the purposes of this section, be notified by the Central Government.
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