IFCI Infrastructure Bonds – IFCI Tax Exemption Long Term Infrastructure Bonds

By: Doyouknow.IN | Views: 5262 | Date: 20-Dec-2010

Save tax by investing in IFCI Tax Exemption Long Term Infrastructure Bonds.

Financial institution IFCI’s long-term infrastructure bonds have evoked a strong response among retail investors and Hindu Undivided Families (HUFs), according to distributors of financial products.

These bonds are the first of its kind since the finance minister announced a new income tax section — 80CCF — which entitles a tax payer to exemptions on money invested in infrastructure bonds. Market participants expect a flood of bond issuance in the coming days from institutions that qualify as infrastructure financing companies. And these are expected to be a hit among retail investors, because of attractive rates of interest as well as tax exemptions.

Those who have already exhausted their annual tax savings limit of Rs 1 lakh will be keenly looking at these bonds. The exemption for investments in infrastructure bonds is in addition to the investments of Rs 1 lakh in tax-saving instruments under Section 80C, 80CCC, 80CCD. After the lock-in period, an investor can take loans against these bonds.

Issuer IFCI Limited ("the Issuer")
Offering 2,00,000 Unsecured, Redeemable, Non-Convertible Bonds of Rs. 5,000/- each aggregating to Rs. 100 Crore with a green-shoe option to retain over-subscription for issuance of additional Infrastructure Bonds
Type Private Placement basis
Instrument Unsecured, Redeemable, Non-Convertible Bonds Series II having benefits under section 80 CCF of the Income Tax, 1961 for long term Infrastructure Bonds
Eligible Investors Resident Indian Individual (Major) and HUF through Karta of the HUF
Security Unsecured
Face Value Rs.  5,000/- per bond
Issue Price At par (Rs. 5,000/- per bond)
Minimum Subscription 1 Bond and in multiples of 1 Bond thereafter,
Tenure 10 years, with or without buyback option after five years
Options for Subscription The Bonds are offered under the following 4 options-
• Option I - Non-cumulative and Buyback after 5 years
• Option II - Cumulative and Buyback after 5 years
• Option III - Non-cumulative and no Buyback
• Option IV - Cumulative and no Buyback
Redemption / Maturity At par at the end of 10 years from the deemed date of allotment. For Cumulative Option, at par with cumulated interest thereon.
Coupon rate • Option I & II - 8% p.a.
• Option III & IV - 8.25% p.a.
Option II and Option IV will have cumulative payment at the end of the Buyback period or 10 years, as per the option opted by the Investor.
Listing Proposed to be listed on BSE
Trustee Axis Trustee Services Limited
Depository National Securities Depository Ltd. and Central Depository Services (India) Ltd.
Registrars Beetal Financial & Computer Services (P) Ltd.
Mode of Payment Interest payment will be made through ECS/At Par Cheques/Demand Drafts
Issuance Demat form. But, investors interested for physical form may provide a cancelled cheque, self-certified copies of PAN Card and residential proof
Trading Demat mode only following expiry of lock-in period
Issue Open Date November 16, 2010
Issue Close Date December 31, 2010
• The issuer would have the right to pre-close the issue or extend the closing date by giving 1 day notice to the Arrangers
Deemed Date of Allotment January 31, 2011
Buyback dates January 31 every year commencing from year 2016 till year 2020.
For further information, please contact Ms Maninder Kaur/ Ms.Barkha Chhabra /Mr. Gopal Singh/ IFCI Ltd, IFCI Tower,61 Nehru Place, New Delhi at 91-11-41792800/41732000 or  maninder.kaur@ifciltd.com or barkha.chhabra@ifciltd.com or gopal.singh@ifciltd.com.

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21  + 2 =     
venkat  |  23-Sep-2011 17:31:38 IST
For IFCI Infra Bonds processing, please call me at 9241545354 (for bangalore only).
Fine Shine india  |  02-Oct-2011 18:11:30 IST
Now you can save 30% Tax benefit Rs 7,880/- u/s 800ccf on infrastructre bond cont for door step serv,Fine Shine India 9716300093,9311099558
Shyamal Kumar Mondal  |  15-Feb-2012 11:04:51 IST
M/S.IFCI Ltd.,
Dear Sirs,
Sub. Folio No.2092694--Deemed interest receivable on Infrastructure Bonds for the year 2011-12 for Income Tax purpose.

I purchased 4 Infrastructure Bonds of Rs. 5,000 each amounting to Rs.20,000 under Folio No.2092694, Distinctive No.335495 to 335498, allotted on 31.01.11 as per cumulative option.
Kindly intimate me the amount of interest receivable for the financial year 2011-12 for the purpose of calculation of Income Tax.
Thanking You,
Yours faithfully,
Shyamal Kumar Mondal
Arabindapally, P.O.Saradapally, Bhadreswar,Dt.Hooghly,W.B., PIN-712124, Ph.No.033-26334229,9831666612,E-mail: skmondal@kopt.in
venkat  |  16-Feb-2012 14:49:12 IST
For Infra Bonds processing, please call or contact or phone me at 9241545354 (for bangalore only).
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