Saturday, January 31, 2009

Tax Free Bonds for the Asstt. Year 2009-2010. Financial Year 2008-09

Approval of issue of tax free bonds by the India Infrastructure Finance Company Limited
The CBDT has approved the issue of tax-free bonds of India Infrastructure Finance Company Limited carrying an interest rate of up to 8% aggregating to an amount of Rs.10,000 crore during the financial year 2008-09

PRESS RELEASE

The Central Board of Direct Taxes (CBDT), vide Notification No.09/2009, have approved the issue of tax-free bonds of India Infrastructure Finance Company Limited carrying an interest rate of up to 8 percent aggregating to an amount of Rs.10,000 crore during the financial year 2008-09.

The income from interest on the investment in these bonds will be exempt from income tax in the hands of the investor. In order to be eligible for exemption from income tax, the bonds must be registered in the name of the holder.


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