IDFC, L&T starts their second innings for Tax saving Infrastructure Bonds

January 16, 2012   ·   1 Comments

& L&T has come out with the second tranche of tax saving infrastructure bonds issue which can help investors save tax up to Rs 20,000 under section 80ccf. After successful tranche -1 from both the companies, they have come up to play their second innings. This is an additional tax saving option that was introduced by government over and above Rs 1 lakh limit under section 80c.

For L&T:

L&T Infrastructure tax saving bonds 2012A issue opens from 10 January, 2012 and shall close on 11 February, 2012.

The investors will get an interest rate of 8.7% per annum. There are 2 options available:
– Non-Cumulative: The interest rate will be paid annually
– Cumulative: The interest will be reinvested and paid at the time of maturity giving better return

The minimum application is 5 bonds and each bond costs Rs 1000 each. The bonds mature in 10 years but can be sold after 5 years lock-in on BSE where they will be listed.

CARE and ICRA have assigned AA+ ratings to these bonds.

For IDFC:

The issue shall open on 11 January and shall close on 25 February, 2012.

IDFC offers 8.70% interest rate with two options:

– Annual in which interest will be paid annually
– Cumulative in which interest will be paid along with principal at maturity

Maturity period is 10 years with buyback option after 5 years. Both ICRA and Fitch have rated these bonds as AAA which is higher than L&T bond ratings.

Rajesh Singla

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  • Fineshineindia

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    8.22% & 8.35% for 10 & 15 yrs with Annual and Cumulative Option

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    8.93% & 8.70% for 5 & 10

    yrs with Annual and Cumulative Option

    Additional tax benefits to Individual-U/S 80CCF upto Rs.20,000/-& U/S 80D upto Rs.30,000/-

    This is over and above Rs. 1 lakh U/S 80C, 80CCC, 80CCD of IT Act.

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