Nomination is important and you should ensure that you have nominated a person who will be entrusted with your funds in the case of your death. If you have not made any nomination, in the event of your death, it will be cumbersome for your legal heirs to take control of your investments. By having a nominee, the amount in your mutual investment gets transferred directly to the nominee in the event of your death and the process is fairly simple with nominee to prove his identity. You can change the nominee as many times as you wish to by filling up the nomination form and changing it from your mother to wife.
IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...
