L&T Infra Tax Saving Bonds 2011B Series issued by L&T Infrastructure Finance Company Limited (L&T Infra) is open from 25.11.2011 and will close on 24.12.2011. L&T Infrastructure Finance Company Limited is promoted by the engineering and construction conglomerate Larsen & Toubro Limited (L&T) and L&T Finance Holdings Limited. - Tenure of the bonds of Rs.1000/- each, is 10 years from the deemed date of allotment with buyback option at the end of 5 & 7 years.
- Minimum subscription of 5 bonds of Rs.1000/- each (investment Rs.5000/-) and in multiples of 1 bond of Rs.1000/-, No maximum limit.
- Interest at 9% per annum, paid annually or cumulative at the end of the term.
- Rated “CARE AA+” rating CARE and “[ICRA] AA+” from ICRA.
- Tax benefit under Sec. 80CCF for amount upto Rs.20,000/- only.
- Bonds available in Physical as well as Demat form.
- TDS shall not be deducted on interest with respect to bonds issued in Demat mode. TDS will apply with respect to bonds issued to investors in physical form.
- Collecting bankers to the issue: Axis Bank, City Union Bank, HDFC Bank, ICICI Bank, IDBI Bank, State Bank of India.
For further details: http://www.ltinfrabond.com/index.aspx
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