Apart from the investments in 80C instruments, additional Rs.20,000 can be saved by investing in Long Term Infrastructure bonds with Tax benefi t u/s 80CCF. These Long Term Infrastructure bonds are issued by rated companies and are thus considered safe. They also offer coupon which are either paid annually or at maturity in cumulative option. These have a lock-in of 5 years, post which they can be traded on the exchange. The maturity period is generally of ten years. By investing in these bonds one can save additional tax.
One can save Rs 2060 in 10% tax bracket, Rs 4120 in 20% and Rs. 6180 in 30% tax bracket.
Some of the issues which will be available in this month for subscription will be ----
1) IDFC long term infra bond issue opens -- 21 Nov. 11, closes -- 16 Dec 11
2) L & T infra tax saving bond issue opens -- 25 Nov 11, closes -- 24 dec 11
3) IFCI long term infra bond issue opens -- 30 Nov 11, closes 16 Jan 12
this bonds are offering interest rate of around 9%
Considering the tax saving if one is exhausting limit of 1,00,000 under section 80C, can consider investing additional 20,000 in these infrastructure bonds.
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