L&T Infrastructure Finance Company Limited (LTIFCL) has came up with its second series of Long Term Infrastructure Bond . The said scheme is eligible for tax deduction under section 80 CCF of the Income Tax act, 1961 .
Last year in the budget the Government approved issuance of long term tax-free bonds under Sec 80CCF of the Income Tax Act for tax-saving investments for additional Rs. 20,000, over and above the Rs. 100,000 limit earlier to boost up the Infrastructure activities in wake of fund shortage in Infra sector.
L&T Infrastructure Finance Company or LTIFCL is offering two option for investment :-
- Series 1: 8.20% annual coupon paying 10 year Bond with a Buyback option at the 5 years and at the end of 7 years.
- Series 2: 8.30% cumulative coupon paying 10 year Bond with a Buyback option at the 5 years and at the end of 7 years.
Both the scheme has buyback option which makes it attractive over the other current ongoing offers.
Offering : The issue will open on Monday, 7th February 2011 and closes on Monday, 7th March 2011 .
LISTING and Trading : There is a proposal to list L&T Infra Bond – 2011A Series on NSE , however trading will only allowed after 5 year of completion and will be only for DEMAT mode applicant only.
TAX Saving : On a investment of Rs. 20,000/- a person with higher tax liability can saves tax upto Rs. 6,180/- with an interest as a bonus of Rs. 1640/ per year (8.2% on Series I, as in this option Interest will be dispatched each year) .
Scheme Benefit : The Infra Bond scheme is beneficial for them who already availed the tax benefit of Rs. 1,00,000/- (One lakh) under the various tax-saving instruments Under Section 80C, 80CCC, 80CCD.
Frequency of Interest :
Series 1 : Annually i.e. the amount of interest will be paid on yearly basis.
Series 2 : Cumulative i.e. the amount of interest will be paid at the time of maturity (10 years) or Buyback (5/7 Years) , as applicable.
Buy Back Amount :
Series 1 : Rs. 1,000/- at the end of 5 Year & Rs. 1,000/- at the end of 7 Year.
Series 2 : Rs. 1,490/- at the end of 5 Year & Rs. 1,748/- at the end of 7 year.
Maturity Amount :
Series 1 : Rs. 1,000/- at the end of 10 Years.
Series 2 : Rs. 2,220/- at the end of 10 Years.
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How can I check my interest on 2011A series bonds
How can check current status & what is payment processing please reply me on my email id
How can submit kyc
Please send address for submit kyc
Please send address for submit kyc
How can I check my bond status of 2011 Series1
Where to send physical bond on maturity
For payment receipt
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