PTC India Financial Services (PFS) Long Term Infrastructure Bonds, which carry benefit under Section 80CCF of the Income Tax Act, 1961, will be open till February 29, 2012
Following are the salient features of the bonds:
PTC India Financial Services (PFS) Long Term Infrastructure Bonds - Series 2 Details:
Eligibility: Resident Indian Individuals and HUFs
Application Size: The lots for application would be 1 Bond and in multiples of 1 Bond thereafter.
Face Value: Rs.5,000/- per bond
Form: Demat / Physical Form. However, trading will be allowed only in Demat form after lock-in period
Rating: ‘A+’ by CARE, ‘A+’ by ICRA, ‘AA’ by Brickwork Ratings
Interest Rates and other details:
According to Section 80CCF of the Income Tax Act, 1961, in computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, the whole of the amount, to the extent such amount does not exceed twenty thousand rupees, paid or deposited, during the previous year, as subscription to long-term infrastructure bonds as may, for the purposes of this section, be notified by the Central Government
By investing in these bonds, investors can therefore, avail deduction under Section 80CCF of upto Rs.20,000/-, which will be over and above the prevailing deduction of Rs.100,000/- for investments made under Section 80C of the Income Tax Act, 1961
Following are the salient features of the bonds:
PTC India Financial Services (PFS) Long Term Infrastructure Bonds - Series 2 Details:
Eligibility: Resident Indian Individuals and HUFs
Application Size: The lots for application would be 1 Bond and in multiples of 1 Bond thereafter.
Face Value: Rs.5,000/- per bond
Form: Demat / Physical Form. However, trading will be allowed only in Demat form after lock-in period
Rating: ‘A+’ by CARE, ‘A+’ by ICRA, ‘AA’ by Brickwork Ratings
Interest Rates and other details:
| Particulars | Option I | Option II | Option III | Option IV |
| Face Value | Rs. 5,000 | Rs. 5,000 | Rs. 5,000 | Rs. 5,000 |
| Interest frequency | Annual | Cumulative | Annual | Cumulative |
| Interest payment | Mar-15 | On Maturity | Mar-15 | On Maturity |
| Duration | 10 years | 10 years | 15 years | 15 years |
| Coupon Rate p.a. | 8.93% | 8.93% | 9.15% | 9.15% |
| Payment | Payable Annually | Compounded Annually | Payable Annually | Compounded Annually |
| Buyback Amt after 5 yrs | Rs. 5,000.00 | Rs. 7,731.00 | NA | NA |
| Buyback Amt after 7 yrs | NA | NA | Rs. 5,000.00 | Rs. 9,929.00 |
| Maturity Amt after 5 yrs | Rs. 5,000.00 | Rs. 11,977.00 | NA | NA |
| Maturity Amt after 7 yrs | NA | NA | Rs. 5,000.00 | Rs. 18,592.00 |
By investing in these bonds, investors can therefore, avail deduction under Section 80CCF of upto Rs.20,000/-, which will be over and above the prevailing deduction of Rs.100,000/- for investments made under Section 80C of the Income Tax Act, 1961
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