What about the current issued tax free bonds (e.g. Hudco, IFCI tax free bonds)? Are they exempt of tax under section 80C? Is the invested amounts in these tax free bond will be eligible for tax exemption?
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Tax free bonds
Replies (4)
only interest is exempted on these bonds.
u/s 80C investment in tax free bonds is not eligible for deduction
Yes, the deduction on investment in bonds have been withdrawn from FY 12-13.
interest earned is tax free. Benefiacial only for assessee's from income group falling in the range of 30% slabs.
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only interest is exempted on these bonds. u/s 80C investment in tax free bonds is not eligible for deduction |
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