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Deduction in respect of subscription to long-term infrastructure Finance bonds under Section 80CCF of the Income Tax Act, 1961
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....eduction in respect of subscription to long-term infrastructure Finance bonds under Section 80CCF of the Income Tax Act, 1961 <br>News and Press Release<br>Dated:- 27-10-2010<br><BR>It may be recalled....
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.... that the Central Government, vide Notification No.48/2010/F.No. 149/84/2010-SO (TPL) dated July 09, 2010, has specified certain bonds as long term infrastructure bonds for the purposes of Section 80C....
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....CF of Income Tax Act, 1961 viz, bonds issued by Industrial Finance Corporation of India, Life Insurance Corporation, Infrastructure Development Finance Company and a Non-Banking Finance Company classi....
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....fied as an Infrastructure Finance Company by the Reserve Bank of India. 2. It is accordingly advised that amount raised by issue of infrastructure bonds by Infrastructure Finance Companies, as specif....
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....ied in the notification issued from time to time by the Central Government under Section 80CCF of the Income Tax Act, 1961, shall not be treated as 'public deposit' within the meaning of paragraph 2(1....
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....) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998. 3. Notification issued in this regard, DNBS (PD) Notification No.216 (US)/2010 dated Octo....
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....ber 22, 2010, amending the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, is enclosed.<BR> News - Press release - PIB....