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Tuesday, January 17, 2012

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:

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
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

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