Source – Team CrawFin/ Harshal Jawale, CFPCM
Just recently Indian individuals realized the importance of option of tax saving through infra bonds over and above INR 1 Lakh u/s 80C. After many failed attempts by many infra companies in the past to complete the subscription, investors were starting to invest into Tax saving Infra bonds. But budget 2012 played a spoilsport to this instrument. Section 80CCF under which investor used to claim INR 20,000 extra deduction is no more available from April 1, 2012. There is no mention in Finance Bill 2012 or not even in DTC which may be introduced from April 1, 2013.
After deletion of this clause there will be INR 6180 loss of tax for 30% tax slab and INR 4120 for 20 % slab and INR 2060 loss for 10% slab. As individual tax payer it reduces his/her ability to avail investment linked deductions from R1.2 lakh to R1 lakh.
Read - I-Strategy, a no brainer idea that helps you make wise investments only on http://crawfin.blogspot.in/2011/11/i-strategy-no-brainer-investment-idea.html#comment-form
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