Section 80 CCF for Tax Payers-
Section 80C at present offers a maximum deduction of Rs 1 lakh, for investments in Life Insurance premiums, National Savings Certificate (NSC), Public Provident Fund (PPF) and Pension Plans.
The new section 80CCF, will offer a presumption of Rs 20,000, in addition to the deduction of Rs 1 lakh under sections 80C, provided the investments are in selected long term infrastructure bonds. The government has anticipated this section to uphold investments in infrastructure projects in India.
Key Benefits of 80 CCF and Infrastructure Bonds-
Some long term Infrastructure Bonds are given below -
• Industrial Finance Corporation of India (IFCI),
• LIC Infrastructure Bond
• Infrastructure Development Finance Company (IDFC) and
• Non-Banking Finance Company (NBFCs) who are classified as an infrastructure finance company by the Reserve Bank of India (RBI)