Category: Investment Management

IFCI Infrastructure bond for tax savings

IFCI INFRASTRUCTURE BONDS

 

Interest Rates

 

Options I II III IV

Buyback / Non Cumulative Option Buyback / Cumulative Option Non Buyback / Non Cumulative Option Non Buyback / Cumulative Option

Face value (Rs.) 5,000/- 5,000/- 5,000/- 5,000/-

Minimum Application One Bond One Bond One Bond One Bond

In Multiples of One Bond One Bond One Bond One Bond

Buy Back Option Yes Yes No No

Interest Payment Yearly Not Applicable Yearly Not Applicable

Coupon 8% per annum 8% p.a. annual compounding 8.25% per annum 8.25% p.a. annual compounding

Coupon Payment Date January 31 every year Not Applicable January 31 every year Not Applicable

Buyback Date January 31 every year starting from year 2016 to year 2020 Not Applicable

Maturity Date January 31, 2021 January 31, 2021 January 31, 2021 January 31, 2021

Buy Back Intimation Period Every Year Between November 01 to November 30, starting from the Year 2015 till Year 2019

Not Applicable

Maturity Amount (Rs.) 5,000 10,795 5,000 11,047

Redemption Amount (in case the buyback option is exercised): (Rs.)

Year 5 5,000 7,347 – –

Year 6 5,000 7,934 – –

Year 7 5,000 8,569 – –

Year 8 5,000 9,255 – –

Year 9 5,000 9,995 – –

 

Cheque/Demand Draft

• Chq/DD should be drawn on “IFCI Limited – Infra Bond” and crossed “Account Payee only”

 

Some of the important details.

 

1) Application will be accepted by Resident Individual / HUF & not from Minor through Guardian.

3) Bonds are not tax free. Interest is taxable in the hands of investor. But no TDS is deducted from interest.

4) Demat is compulsory. Joint holders can apply as per same order of Demat A/c . Application without Demat a/c details will be rejected.

5) Maximum benefit to an investor shall be Rs. 20,000/- under section 80CCF of the Income Tax Act, 1942

 

Thanks and best regards

Dilshad

08041512337 080 41136147

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