Section 80CCF of the Income Tax Act is a special provision introduced for benefiting the investors of certain government-approved bonds schemes. The section was discontinued w.e.f AY 2013-2014. Section 80CCF was formulated in the year 2010 and came in force in 2011 under the income tax act. The government had re-introduced this section to encourage investments in the infrastructure projects of the country at the same time helping taxpayers reduce their liabilities.
Deduction U/s 80CCF is apart from Deduction U/s 80C. i.e if a person invests 20000/- in certain government-approved bonds schemes and his limit for deduction U/s 80C which is 150000/- has exhausted then also he can claim extra benefit of 20000/- U/s 80CCF.