80CCF Tax Rebate

Section 80CCF of Income Tax was an addition in the Financial Year 2010-11, under which an investment of upto Rs 20,000 made in certain infrastructure bonds qualified for additional tax deduction.

Three long term infrastructure bonds were eligible - those of the Life Insurance Corporation (LIC), Infrastructure Development and Finance Corporation (IDFC) and IFCI. This deduction was over and above the regular 80C and 80D deductions available respectively for tax-saving investments and medical insurance.

Deduction under 80CCF was extended to 2011-12. However this exemption has not been extended for the year 2012-13. Individuals and HUFs can continue to make investments in theses bonds but you cannot claim income tax exemptions for your investments.

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