infrastructure bond

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NA
30 Points Posted on 08 April 2011

 

Pls let me know whether SBI Tranche 1- issue is exempted under sec 80CCF?

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On 08 April 2011 at 13:01 Report
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Learner
3134 Points Posted on 08 April 2011

 

YES IT’S  EXEMPTED U/S 80CCF maximum of Rs.20000.00

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On 08 April 2011 at 13:02
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NA
30 Points Posted on 09 April 2011

But that is not mentioned anything like that in SBI website.

Could you pls explain where I can get any proof  for that.

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On 09 April 2011 at 13:24
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Knowledge Seeker
317 Points Posted on 09 April 2011

SBI Tranche-I bonds do not enjoy any tax benefits including u/s 80-CCF.

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On 09 April 2011 at 15:38
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ACCOUNTS EXCECUTIVE
575 Points Posted on 09 April 2011

For sec 80ccf bonds issued only by following will quality (Notificaion 48/2010)

(i)   Industrial Finance Corporation of India;
(ii)  Life Insurance Corporation of India;
(iii) Infrastructure Development Finance Company Limited;
(iv)  A Non-Banking Finance Company classified as an Infrastructure Finance Company by the Reserve Bank of India;
 
I don't think SBI falls under any of above category
 
Regards
Dayananda

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On 09 April 2011 at 15:57

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