As you may be aware that in the last budget our Finance Minister has introduced a new IT Section 80CCF under which taxpayers can avail addition deduction of Rs.20,000/- by investing in long term Infrastructure Bonds. This investment is over and above the Rs. 1 lac permissible tax saving investment under section 80C.
IDFC Ltd is coming up with an Infrastructure bond issue of Rs 3,400 cr in one or more tranches. Issue is opening on September 30, 2010 and opening on October 18,2010. Find below the salient features and issue structure. Please be informed that you can invest in the same through us. Please write a mail to [email protected] Salient features: * First public issue of bonds by an infrastructure finance company under Sec 80 CCF * Credit rating agency ICRA has rated the Bonds under this offer as "LAAA" with stable outlook, indicating highest safety. * These bonds will be issued only to Resident Indian Individuals (Major) and HUF. * The bonds are fully secured with first floating pari pasu charge over certain receivables of the Company and first fixed pari pasu charge over specified immovable properties of the Company. The security cover is 1.0 times of the outstanding Bonds at any point in time. * The Bonds bear an attractive combination of coupon rate ranging between 7.5% and 8% p.a coupled with tax benefits of upto Rs 20,000 under Sec 80 CCF. * There are 4 investment options, suiting the needs of different categories of investors. * No TDS shall be deducted. * The bonds will be listed on NSE & BSE and can be traded after the 5 year lock - in period. * Investors can mortgage or pledge these bonds to avail loans after the lock-in period. * Under Section 80 CCF of the I.T. Act, an investor in such infrastructure bonds will be entitled to tax deduction of investments of up to Rs 20,000. The deduction is over and above the Rs 1,00,000 deduction available under section 80C, 80CCC & 80CCD read with section 80CCE. * Available in Physical form as well as Demate Form too Issue Structure: Options Series I Series II Series III Series IV Interest Payment Annual Cumulative Annual Cumulative Minimum Application 2 bonds and in multiples of one bond thereafter Face Value (Rs./Bond) Rs.5,000/- Rs.5,000/- Rs.5,000/- Rs.5,000/-/- Coupon (%) p.a. 8% N/A 7.50% N/A Yield on Maturity (%) p.a. 8% 8.0% compounded annually 7.50% 7.5% compounded annually Maturity 10 years 10 years 10 years 10 years Redemption Amount per bond Rs 5,000 Rs 10,800 Rs 5,000 Rs 10,310 Buy back Facility N/A N/A Yes Yes Buy back Amount (Rs) N/A N/A Rs 5,000 per bond Rs 7,180 per bond Buy back Yield (%) N/A N/A 7.50% 7.5% compounded annually With Warm Regards Zoher Doctor / Smart Money Inc. Financial Planner & Investment Consultant 402, Bholesai Apt., Bh. Emperor, Parsi St, Fatehgunj, Vadodara 390002 GUJ INDIA Direct: +91 9824063400 Office: +91 265 3263635 Online Chat: Yahoo = zoherdoctor, Gmail = zoherdoctor, skype = zoher.doctor Alternate E-Mail: <mailto:[email protected]> [email protected] Get the Financial Market Updates, Join the Group: http://groups.google.co.in/group/smartmoneyinc Fixed Deposits # Bonds # Mutual Funds # Insurance # Gold # Equity # PMS # Real Estate # Loans <http://groups.google.co.in/group/smartmoneyinc/web/buy-mutual-fund-online?> To Buy Mutual Fund Online <http://groups.google.co.in/group/smartmoneyinc/web/gold-harvest> Gold in Installments -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
