I want to invest in Infrastructure Bonds for tax deductions under 80C investments. I checked in Coin, where I searched for Infrastructure, and I got results from LIC, L&T, HDFC etc.
But there is almost no details with regard to it’s classification under 80C investments, for details it refers to AMC websites. Is it by default that any fund which contains “Infrastructure” in it classifies as an 80C tax saving instruments ? Or are they limited in numbers and are only accepted from LIC, IDFC etc ?
I had applied for IDFC Infra Bonds - Tranche 3 ISIN INE092T08CJ1, Symbol - IDFCFIRSTB-N8
and Tranche 2/11 ISIN INE092T08CN3, Symbol - IDFCFIRSTB-NC
back in 2011 and 2012 respectively for additional tax saving of Rs 20,000. Tranche 3 is maturing on 31/03/2021.
I don’t think they came up with such tax saving infra bonds afterward. Was there any?
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The infrastructure bond tax-saving exemption (80CCF) was discontinued in 2012 Budget. There have been multiple proposals to bring it back (like 2020, 2021) but it hasn’t been introduced again.
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@Prayag @Quicko is the maturity amount payout for 80CCF IDFC Infrastructure Bond considered as LTCG? Or it is considered as interest earned that need to be added to total income and taxed as per slab? Also, can the gains (maturity amount - initial investments) be considered for section 54F investment (like LTCG > 1 lakh from equity sales)? If you can help me understand.
@Neelesh I could not see any mention of IDFC Bonds in the Tax P&L statement for FY 20-21 so was wondering why it is so. Ticket No 20210316258321. I have to now look for my bank statement to determine the payment received at the time of maturity of the bond.