BHARTI AXA Life has started offering its new child plan — Bright Stars PLUS — with a feature that promises to hand out 7% of the fund value as ‘Jumpstart’ benefit. Like several other child plans, this product comes with a waiver of premium benefit in the event of the policyholder’s death. In such a circumstance, the company undertakes to pay the regular premiums into the policy till maturity. Policyholders can choose from five fund options, and are allowed 12 free switches a year between these funds.
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...
