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Saving tax with L&T Infra Long-term Infrastructure Bonds Here's a defined structure of interest rates and tax deduction under these bonds.
You have 4 options you can pick and choose from as per your requirements. The specific terms of the instrument: | Series | 1 | 2 | | Frequency of Interest | Annual | Cumulative | | Buyback Facility | Yes | Yes | | Buyback Date | First Working Day after 7 years from the Date of Allotment | First Working Day after 7 years from the Date of Allotment | | Interest Rate | 8.20% p.a. | 8.30% p.a. compounded annually | | Maturity Date | 10 years from the Date of Allotment. | 10 years from the Date of Allotment. | | Maturity Amount (Rs.) | 1,000 | 2,220 | | Buyback Amount (Rs.) | 1000 at the end of 5 yrs./1000 at the end of 7 yrs. | 1490 at the end of 5 yrs./1748 at the end of 7 yrs | | Buyback Intimation Period | The period commencing from 6 months preceding the corresponding Buyback Date and ending 3 months prior to the corresponding Buyback Date | | Yield of the Bond on Maturity* | 8.20% p.a. | 8.30% p.a. compounded annually | Tax Benefit: THE BONDS ARE CLASSIFIED AS "LONG TERM INFRASTRUCTURE BONDS" AND ARE BEING ISSUED IN TERMS OF SECTION 80CCF OF THE INCOME TAX ACT AND THE NOTIFICATION. IN ACCORDANCE WITH SECTION 80CCF OF THE INCOME TAX ACT, THE AMOUNT, NOT EXCEEDING RS. 20,000 PER ANNUM, PAID OR DEPOSITED AS SUBSCRIPTION TO LONGTERM INFRASTRUCTURE BONDS DURING THE PREVIOUS YEAR RELEVANT TO THE ASSESSMENT YEAR BEGINNING APRIL 1, 2011 SHALL BE DEDUCTED IN COMPUTING THE TAXABLE INCOME OF A RESIDENT INDIVIDUAL OR HUF. IN THE EVENT THAT ANY APPLICANT APPLIES FOR THE LONG TERM INFRASTRUCTURE BONDS IN EXCESS OF RS.20,000 PER ANNUM, THE AFORESTATED TAX BENEFIT SHALL BE AVAILABLE TO SUCH APPLICANT ONLY TO THE EXTENT OF RS. 20,000 PER ANNUM. Kindly Contact us for More details & Forms Thx & Regards Nikhil Vadia - 98197 55658 | 
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