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Wednesday February 22nd 2017
Technopark Living

New tax-exempted infrastructure bond launched

IDFC has launched a new long-term infrastructure bond, the first one this year to be approved for tax exemption. Under this year’s finance law, investments upto Rs.20,000 in only such schemes are eligible for tax exemption, over and above the normal exemption of Rs.1 lakh. The new bond offers compound interest at upto 8% and matures in 10 years, though they can traded in stock markets after 5 years. Please check with your broker or online trading account for details.

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