View quick summary The Indian Government is likely to increase the tax exemption offered by Infrastructure Bonds, which stands at Rs 20,000 now, to Rs 1,00,000. Incentives are also being chalked out for corporates and PSUs by offering tax exemption of up to Rs 1,000 crore on investing in Infra Bonds.
The estimated requirement to fund India’s infrastructure projects for the 12th plan period is $ 1 trillion. Infrastructure companies will raise half of the funds as debt through bonds.
Deductions offered by Infrastructure Bonds are over and above the savings offered by Section 80C of the Income Tax Act, 1961. Section 80C has a tax saving ceiling of up to Rs 1,00,000 which can be claimed through mutual funds, Public Provident Funds and insurance premiums.
Out of the 4 crore income tax returns (ITRs) filed during the financial year 2011-12, 1.64 crore were filed online. Majority of these were ...
Most individuals who have travelled outside India for jobs, open a bank account in the visited country. In most cases, the account is not closed ...
View quick summary You know it’s time. It’s April and your employer has asked you to submit I-T declaration. You understand that tax ...
View quick summary Very soon, your employer will ask you to submit Tax Declaration for Financial Year 2012-13. Based on your declaration, the HR/Finance ...
View quick summary A salaried person gets a fair idea about what his annual income would be at the beginning of the financial year. Still ...
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