1) Issue Details:
- Issue closes: Feb 29 – Mar 27, 2012
- Rating: ‘BWR AA–’ by Brickwork Ratings India Pvt. Limited, CARE‘A+’ by CARE Ratings (Credit Analysis & Research Ltd.), ‘LA’ [now ‘(ICRA) A’] by ICRA Limited
- Face Value: Rs. 5,000 /- per bond
- Subscription amount: Minimum Rs. 5,000 or 1 bonds
- Lock In period: 5 years
- Cheques/ DDs should be drawn in favour of “IFCI Limited- Infra Bond” and crossed A/C Payee only. Please write Applicant’s Name, Phone No. & Application No. on reverse of the cheque/DD. Acknowledgement is subject to realisation of cheque/DD.
Coupon: 8.50% p.a. for 12 years & 8.72% p.a. for 15 years
The money invested in these Infrastructure Bonds will be invested in Long Term Infrastructure projects like building of Airports, power plants, roads and ports meeting the infrastructure needs of the country.
2) Tax Benefit:
Under Section 80CCF of the Income Tax Act the amount, Rs. 20,000 per annum, paid or deposited as subscription to long-term infrastructure bonds shall be deducted in computing the taxable income. This is over and above the Rs 1,00,000 tax benefit available under section 80C, 80CCC & 80CCD read with section 80CCE
Benefits as per Tax slabs:
- Slab 10.3% – Tax Benefit Rs. 2,060
- Slab 20.6% – Tax Benefit Rs. 4,180
- Slab 30.9% – Tax Benefit Rs. 6,180
3) Specific Terms of the Bond series: Click here