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This year onward, there will be no tax benefit from Infrastructure Bonds. So on one hand Mr. Pranab Mukherjee gave some extra money by increasing basic exemption limit by 20,000 Rs and with other hand he took back more by taking back 20,000 tax deduction provided under section 80CCF using Long term infrastructure bonds.

Initially this section was introduced in FY 2010-11 for one year and then was extended for FY 2011-12. But contrary to experts’ opinion of increase in this limit, FinMin choose to not mention anything about 80CCF and thus removing it from picture.

20000 increase in basic exemption limit provided 2000 extra to every men. But removal of infra bonds results in extra tax of same 2000 for Men in 10% limit, 4000 for 20% tax limit and 6000 for 30% tax limit. (Not including cess and other changes). For women tax payers, condition is even worse. With no change in basic exemption limit for them it could only be bad for them.

This is negative not only for individuals but infrastructure companies as well. Long term infra bond was source of low interest capital for these companies. Now after removal of this tax benefit from investors, these companies will have to go to market for fund raising on higher interest rates. In country like India where condition of infrastructure is already bleak; I am not sure how removal of provisions of 80CCF will work for Greater Good.

 

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17 Comments on No tax benefit from Infrastructure Bonds in FY 2012-13

  1. sumeet says:

    By removing the infrastructure bonds from tax rebate will actually increase the burden on tax payers.
    Does government ever think about its citizen or rather they just do anything to fill thier pockets.

    How can this discussion is justfied?
    Does anybody ask this question to pranab mukherjee..

    i would like to ask this question to all the media channels in delhi that they should ask this question to our finance minister.

    How this can be removed ???

    i want a explanation..

  2. Balasaheb says:

    Inform me about Infrastructure Bonds in FY 2012-13
    thanx.

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  4. Vittal says:

    It is very unfortunate that tax exemption is not
    given to Infrastructure Bonds for 2012-13.

  5. Manish D Gupta says:

    I would like to confirm, after removal of Infra bonds from the tax exemption, What is the total exemption limit under 80C ? Is it 1 lac or 1 lac 20 thousand for the fiscal year 2012-13

  6. Excluding infrastructure bonds under sec80ccf will put unnecessary burden on taxpayers who doesn’t want to get there money deducted from their salary. It will also affect infrastructure companies as they have to borrow money at higher rate of interest from banks or other financial institutions.

  7. Mallikarjuna says:

    Hi,

    It’s very bad by taking back infra bonds from 80CCF for an individual. Is there any alternative like infrastructure bonds for 2012-2013 year. Please give more details.

    Regards
    Mallikarjuna

  8. Shrenik KumarJain says:

    Hi,

    It’s very bad by taking back infra bonds from 80CCF for an individual. Is there any alternative like infrastructure bonds for 2012-2013 year. Please give more details.

    Regards,
    Shrenik jain

  9. Dr RP Gupta says:

    RGEES scheme is only for those who comes under 20% tax slab

  10. sanjeev says:

    govt employee under new pension scheme has to contribute 10 % toward NPS and same amt is contributed by the employer. How the deductions are available under different heads

  11. Nirav says:

    Again in this 2014 Budget, Infrastructure Bond Exemption is expected as Modi Goverment is interested in Infra Decevlopment. Lets hope for the best!!

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