Need To Exempt Rs 20000 From Taxable Income?

Need to exempt Rs 20000 from Taxable Income?

Infrastructure is the back bone of the Nation. Government and Other Institutions requires huge sum for investing in infrastructure activities and growth. To raise the funds from public for infrastructure development of the nation, government and other institutions float bonds. Bonds are good instruments to borrow capital from public.

Section 80 CCF of Income tax act is a special provision enacted by government in 2010 benefiting the investors and to promote investments in Infrastructure bonds scheme. Section 80CCF provides taxpayers with a deduction on the amount invested in specific government or approved infrastructure bonds up to Rs 20000 per year on total taxable income.

Infrastructure bonds will be issued with a minimum tenure of 10 Years with mandatory lock in period of 5 years. Interest from the infrastructure bonds are taxable as per the slabs under Income from other sources. To avail the tax benefits under section 80 CCF investor should be an individual or HUF.  Only residents can enjoy the benefits.

Mentotax recommends you to utilise the opportunity to reduce taxable income by investing in the Infrastructure bonds. Maximum deduction of Rs 20000 of invested amount is exempted from taxable income under section 80 CCF of Income tax act..

Individuals in 5% tax slab can save Rs 1040/- Taxpayers in 20% tax slab can save Rs 4160/- and Assesse in 30% tax slab can save up to Rs 6240/- by investing in infrastructure bonds.

Keep reading and support us!

#Mentotax #Infrabonds #Tax #80CCF

For more details contact

Mentotax@gmail.com