75th Founding Day Lecture Meeting on “India@2030” Know More

August 2010

Bonds u/s.80CCF specified — Notification No. 48/2010, dated 9-7-2010.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
Reading Time 1 mins
fiogf49gjkf0d

New Page 1

Part A : Direct Taxes

69 Bonds u/s.80CCF specified — Notification No. 48/2010,
dated 9-7-2010.

The CBDT has mandated IFCI, LIC, IDFC and any NBFC classified as an
infrastructure company by the RBI to issue bonds u/s 80CCF for A.Y. 2011-12. The
nature, yield, tenure and other specifications have been mentioned in this
Notification. Deduction up to Rs.20,000 is available to assessees in addition to
deduction u/s. 80C of the Act on investment in such bonds. The bonds would have
a lock-in period of minimum five years.

Download PDF

You May Also Like

S. 50C — Difference between sale consideration of the property shown by assessee and FMV determined by DVO u/s.50C(2) was less than 10% — AO not justified in substituting value determined by DVO for sale consideration disclosed by assessee.

Section 143 — Notice under Section 143(2) is required to be served on assessee within 12 months from end of month in which return of income has been filed and mere issuance of notice within a period of 12 months is not sufficient —The onus to prove servic