Deduction in Respect of Subscription to Long Term Infrastructure Bonds under section 80CCF

Deduction in Respect of Subscription to Long Term Infrastructure Bonds under section 80CCF of Income Tax Act, 1961.This Deduction is available only for AY 2011-12 and 2012-13. Discontinued from AY 2013-14.

The conditions for claiming deduction under section 80CCF are as follows:

  • The assessee is an individual or a HUF
  • Deduction under this section is available only for the assessment years 2011-12 or 2012-13
  • An individual or a HUF can claim deduction of the amount paid or deposited to the maximum of Rs. 20000 during the previous year as subscription to notified long term infrastructure bonds
  • This deduction will be over and above the existing overall limit of deduction on savings of up to rs.100000 under section 80C, 80CCC and 80CCD.

Reference: Section 80CCF of Income Tax Act, 1961

Deduction in respect of subscription to long-term infrastructure bonds.

80CCF. In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, the whole of the amount, to the extent such amount does not exceed twenty thousand rupees, paid or deposited, during the previous year relevant to the assessment year beginning on the 1st day of April, 2011 or to the assessment year beginning on the 1st day of April, 2012, as subscription to long-term infrastructure bonds as may, for the purposes of this section, be notified by the Central Government.

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