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of <h1>Central Govt Designates Long-Term Infrastructure Bonds for 2011-12 Under Section 80CCF, Capping Issuance at 25% of Investments</h1> Notification No. 50/2011, dated 9-9-2011, specifies that the Central Government, under Section 80CCF of the Income-tax Act, 1961, designates certain bonds as long-term infrastructure bonds. These bonds, named 'The Long Term Infrastructure Bond,' will be issued in the financial year 2011-12 by specified entities including the Industrial Finance Corporation of India and the Life Insurance Corporation of India. The issuance is capped at 25% of the issuer's incremental infrastructure investments from the previous year. The bonds have a minimum tenure of ten years with a five-year lock-in period. Subscribers must provide their PAN, and the bond yield cannot exceed government securities' yield. Proceeds must be used for infrastructure lending, with usage reported to regulatory authorities.
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