L & T Infrastructure Finance Company Limited has come out with issue of Tax Savings Bonds, the Investment in which will qualify for additional deduction of Rs. 20000/- u/s. 80 CCF of the Income-tax Act,1961. The salient features of this issue are reproduced below :-
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As per provisions of Section 80 CCF , an additional deduction of Rs.20000/- can be claimed from Gross Total Income as Deduction in addition to Rs. 100000/- under Section 80C (LIC Premium,School Fees,Housing Loan Repayment , etc.,)
On account of the same, the tax savings for an Individual can be to the maximum of Rs. 6180/-.
To avail this deduction , the Investment in Long Term Infrastruture Bonds shall be made on or before 31st of March.