Save Rs 6180 in Income Tax in India
At this time of the year, most of us are looking at investing in tax saving schemes. In this regard, we are pleased to let you know about an offer for you to invest in long term infrastructure bonds wherein an investment up to a maximum of 20,000 would be deductible from your taxable income. Your taxable income would thus reduce by the investment you make in these infrastructure bonds, subject to an upper limit of 20,000.
The good news does not stop here! The tax saving investments in this new section (Sec 80CCF) is over and above 1,00,000, that is exempted under Section 80C! What this means is that, you can save up to an additional 6,180 (assuming you are in the income tax bracket of 30%) income tax by investing 20,000 in infrastructure bonds.
Now, your next logical question would be,
"So, where do I invest?"
Well, IDFC, one of the most reputed NBFCs, has launched Long term infrastructure bonds which fit the bill. The bond is rated "LAAA" by ICRA. An LAAA rating means that the bond is an extremely safe and stable instrument to invest in. You can invest a minimum of 10,000. The investment has a lock-in period of 5 years. The icing on the cake is that the bond offers you interest of 9% per annum. The issue closes on December 16, 2011.
We understand that you would be keen to know more about this exciting investment opportunity. We have a detailed IDFC infrastructure bonds note here, which should clarify most of your queries.
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