Taxes Income Taxes

Deduction available to an assessee for subscription to Long-term Infrastructure Bonds (Section 80CCF)

Deduction available to an assessee for subscription to Long-term Infrastructure Bonds (Section 80CCF)
  1. Applicability: Individual and HUF
  2. Nature of payment: Subscription to long-term infrastructure bonds notified by the Central Government during the previous year 2010-11. [Notified Bonds- Long term Infrastructure Fund of India Infrastructure Finance Co. Ltd., IFCI, LIC, IDFCI. NBFC is also classified Infrastructure Finance Company by the RBI]
  3. Amount of deduction: Least of- Amount paid or Deposited or Rs.20000.
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