PM Narendra Modi has invested in Tax Saving Bonds. Tax Bonds Bonds are considered a safe investment and offer better returns than small savings schemes.
PM Modi Investment in Tax Saving Bond:
One of the different schemes or investment instruments in which PM Narendra Modi has invested is Tax Saving Bond. Tax free bonds are a better option for those investors who want safe returns from the capital market and are not ready to take market risk. According to the information given by PM Modi about his assets, he has invested 20 thousand rupees in tax saving bonds. You would also like to know that what are the benefits of investing money in this option, how much return is being given in them.
In which bond has PM Modi invested?
Prime Minister Narendra Modi has invested 20 thousand rupees in L&T Infrastructure Bond (Tax Saving). He had invested money in this bond on 25 January 2012. However, now its value is not known. The lock-in period on tax saving bonds is generally at least 5 years. At the same time, it is also 10 years in bonds with longer maturity. It is clear from this that PM Modi has invested money in this scheme for a long period.
80CCF: Tax Benefit
Tax saving bonds provide tax benefits under section 80CCF of the IT Act. The investor gets the benefit of tax deduction on investments up to Rs 20,000. Therefore, in a financial year, a tax payer can deduct Rs 20,000 from his total taxable income. It is different from tax free bonds.
Features of Tax Saving Bond
The risk is very less in tax saving bonds. It is better for those who invest money in the market without taking any risk. The returns you get in tax saving bonds are better than small savings schemes like FD or RD. In this the maturity period can be extended. Through this, you can take advantage of tax deduction up to Rs 20,000 in a financial year.
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