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Infrastructure Bonds

Discussion in 'Money Matters' started by amihere, Mar 2, 2010.

  1. amihere

    amihere Platinum IL'ite

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    Hi,
    When I searched for infrastructure bonds I got to know there are 2 types, ICICI Safety bonds and IDBI flexubonds. On my further research on ICICI safety bonds, I came to know again there are a number of bonds in it with an interest of around 10%. As of my knwledge this interest rate is a bit higher considering those of F.Ds and M.Fs. Is there anyone who have a better knwledge of these bonds or who have already invested in them?
    If so kindly answer my queries which are

    1. How can we purchase an Infra structure bond?

    2. Came to know the interest is taxable, and in some bonds saw that interest is paid annually/monthly, is the tax a kind of TDS?

    3. What is the minimum amount required to deposit in it and is a recurring deposit required?
     
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  2. cinderella06

    cinderella06 Gold IL'ite

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    Just replying this thread to know any details on the op's query..even im intersed to know..
     
  3. sonal1611

    sonal1611 Gold IL'ite

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    Hey.. I have brought these bonds.. U can invest any amount but one can get tax benefit only for 20K which is above 1lac limit under section 80C . While buying only , they mention for how many years , your amount will be locked . Its for 5 /7/10 years period. Below are ur answers :

    1)One can buy it online/offline from brokerage firms. I have brought it online from ICICI direct.
    2) no idea.. will search and let u know
    3) No .. I think lumpsum amount need to be put. No recurring facility.
     

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