Tax Saving Bonds – IFCI Infrastructure Bond Series III


IFCI Ltd has come out with IFCI Infrastructure Bonds Series III . Having Benefits under section 80CCF of the income Tax, 1961 for Long Term Infrastructure Bonds. The Bonds are first for the year 2011-12. Main points of the issue are:

* The issue will open on September 21, 2011 and will remain open till November 14, 2011. However, the issuer would have an option to pre-close or extend the issue by giving 1 day notice to the arrangers. Deemed date of allotment- December 12, 2011.
* The benefit under section 80 CCF is limited to Rs. 20,000 in a financial year, but there is no limit on investment.
* Cheque/DD/Pay order, drawn and made payable in favour of “IFCI Limited – Infra Bond” and crossed “Account Payee Only”
* The PAN No of the Sole / First Applicant and all Joint Applicants(s) should be mentioned correctly in the Application Form. If the applicant opts for bonds in physical certificate form, then the self certified copy of the PAN Card of the sole/first holder and self certified address proof of the sole/first holder along with cancelled cheque must be attached to the application form.

Basic Terms of Issue:
Options

I

II

III

IV

Interest Payment
Frequency

Cumulative

Annual

Cumulative

Annual

Face value (Rs./Bond)

5,000/-

5,000/-

5,000/-

5,000/-

Minimum Application

One Bond

One Bond

One Bond

One Bond

In Multiples of

One Bond

One Bond

One Bond

One Bond

Buy Back Option

Yes

Yes

Yes

Yes

Coupon

8.50 % per annum (Annual
compounding)

8.50 % p.a.

8.75% per annum (Annual
compounding)

8.75% p.a.

Coupon Payment Date

At the time of redemption

December 12 every year

At the time of redemption

December 12 every year

Buyback Date

December 12 of the
Calendar years 2016 and 2018

December 12 of the
Calendar years 2018, 2021 and 2023

Maturity Date

12/12/2021

12/12/2021

12/12/2026

12/12/2026

Buy Back Intimation
Period

August 12 to September 11
of Calendar years 2016 and 2018

August 12 to September 11
of Calendar years 2018, 2021 and 2023

Maturity Amount (Rs.)

11,305/-

5,000/-

17,596/-

5,000/-

Redemption Amount, (in case the buyback option is
exercised)(Rs.):

At end of Year 5

7,519/-

5,000/-

Not Applicable

Not Applicable

At end of Year 7

8,851/-

5,000/-

8,995/-

5,000/-

At end of Year 10

Not Applicable

Not Applicable

11,569/-

5,000/-

At end of Year 12

Not Applicable

Not Applicable

13,682/-

5,000/-

To download application form click here IFCI Infrastructure Tax Saving Bond Series 3

Important: Please keep the photo copy of the filled application forms for your records, in case you did not receive the Bond in 30 days then you can mail your queries at contactcorpus@gmail.com

To know the Branch details, where forms can be submit click here HDFC BRANCH LIST FOR IFCI Series 3 Infrastructure Bond


You can also request the form on contactcorpus@gmail.com

 

Notice: Issue extended till 19th November

 

 

 

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