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of <h1>Long-Term Infrastructure Bonds: Conditions under Section 80CCF, Tenure, Lock-In, and Issuer Requirements Explained</h1> Notification No. 48/2010, dated July 9, 2010, specifies the conditions for long-term infrastructure bonds under Section 80CCF of the Income-tax Act, 1961. These bonds, named 'Long-term Infrastructure Bonds,' can be issued by entities like the Industrial Finance Corporation of India, Life Insurance Corporation of India, Infrastructure Development Finance Company Limited, or RBI-classified Infrastructure Finance Companies. Issuance is limited to 25% of the issuer's incremental infrastructure investments from the previous year. Bonds have a minimum tenure of ten years, with a five-year lock-in period. Investors must provide their PAN, and bond yields cannot exceed government securities' yields. Proceeds must be used for infrastructure lending, with mandatory reporting and certification by the issuer's statutory auditor.
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