Pls let me know whether SBI Tranche 1- issue is exempted under sec 80CCF?
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infrastructure bond
Replies (4)
YES IT’S EXEMPTED U/S 80CCF maximum of Rs.20000.00
But that is not mentioned anything like that in SBI website.
Could you pls explain where I can get any proof for that.
SBI Tranche-I bonds do not enjoy any tax benefits including u/s 80-CCF.
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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