TaxTMI 
TaxTMI 
Investment Upto Rs. 20000/- In Longterm Infrastructure Bonds Allowed As Deduction U/S 80ccf Of Income Tax Act 1961
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....nvestment Upto Rs. 20000/- In Longterm Infrastructure Bonds Allowed As Deduction U/S 80ccf Of Income Tax Act 1961 <br>News and Press Release<br>Dated:- 3-8-2010<br><BR>Income Tax Act, 1961 The Finan....
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....ce Act, 2010 has inserted a new section 80CCF in the Income Tax Act, 1961, which provides that an amount upto the extent of Rs. 20,000/- paid or deposited during the financial years 2010-11 as subscri....
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....ption to long-term infrastructure bonds shall be allowed as deduction in computing the income of an individual or a Hindu Undivided Family. The deduction will be over and above the existing overall li....
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....mit of Rs. 1,00,000/- available under section 80C, 80CCC and 80CCD of the said Act on savings and other prescribed investments. This amendment takes effect from 1.4.2011 and is applicable for the subs....
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....criptions to eligible/notified infrastructure bonds made during the Financial Year 2010-11. Consequent to this amendment, 'long-term infrastructure bonds' have been notified vide Department of Revenu....
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....e, Central Board of Direct Taxes, notification No. 48/2010 [S.O. 1639 (E)] dated 9.7.2010, specifying the details such as the tenure, interest rate, agencies which can issue the bonds, etc. This info....
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....rmation was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to an Unstarred Question in Rajya Sabha today.<BR> News - Press release - PIB....