Harish Desai (Proprietor) 28 January 2013
For the year 2012 - 13 Tax Benefit under 80CCF (on addl investment of Rs. 20000/-) on Infrastructure Bonds is removed, then how HUDCO is coming up with Tax Free Infrastructure Bonds? Will investment in these bonds be taken under 80 C ie. within Rs. 100000/-?
- Harish
Anil Agrawal (Retired) 28 January 2013
Tax free is quite different than investment under 80C.
R RAJAGOPALAN (ADVOCATE) 29 January 2013
There is no ban on Infra Bonds;only the tax concession is withdrawn.
Harish Desai (Proprietor) 29 January 2013
If Tax Concession is withdrawn why are they still called as "HUDCO Tax Free Bonds"?
R RAJAGOPALAN (ADVOCATE) 29 January 2013
The Bonds r tax free, ie; no tax is payable/chargeable on the income (interest) receivable therefrom. But the investment in these Bonds will not be eligible for any tax concession.
Neha Sharma (Student) 03 February 2013
Maybe HUDCO is taking benefit of some other section...
Long Term Capital Gains are also exempted if you invest in a specified category of bonds... HUDCO may be taking benefit of this
Anil Agrawal (Retired) 03 February 2013
Interest on bonds being tax free is different from investment u/s 80C, which reduces the taxable income.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
