gunesh
asked
what is the meaning of l&t infra bond? How much interest will the bonds carry?
0
0
Answer Now
Comment
Report
1
Answers
Important Note – Preparing for OTHER TAX?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below –
For any questions Request A Call Back
CA Sandeep Bohra
answered
Dear Friend,
L&T Infra Finance had successfully closed its second Long Term Infrastructure Bond Issue in March 2011. This tax saving bond issue was oversubscribed. The revenue generated from investors is invested indirectly on a long-term basis in infrastructure projects across the country.
As per section 80CCF of the Income Tax Act, investors got a tax relief of up to Rs 20,000 over and above Rs 1,00,000 under 80C by investing in these bonds. The 2010A and 2011A Bond Series provided investors an annual interest rate of 7.5% - 7.75% and 8.2% - 8.3% respectively and the flexibility of investing for 5 years or 10 years with a buy back option of 7 years on a cumulative or annual basis of returns. In addition to this, the 2010A & 2011A Bond Series provided investors with the option of retaining the Bond in Physical or Demat form.
