« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  No perks for India Inc, fringe benefit tax to stay... Food processers want tax in cold storage... » Core sector bonds may be tax-free February, 07th 2007 In a move that will have major implications for infrastructure financing in India, the finance ministry and the Reserve Bank of India are discussing the possibility of allowing tax-exempt status to long-term infrastructure bonds raised by commercial banks.    Sources said Finance Minister P Chidambaram might make an announcement in this connection in Budget 2007-08, as part of his overall strategy for raising long-term finance for infrastructure.    The tax exemption on such bonds, which cover tenors of 10 to 20 years, is considered the key to mopping up savings from the general public. Though banks are eligible to issue infrastructure bonds under RBI guidelines, none have done so for lack of appetite from retail buyers.    Making infrastructure bonds eligible for tax exemptions will put them on a par with other tax-saving instruments, said a public sector bank chief. Major banks like ICICI Bank and IDBI said they would raise around Rs 4,000 crore each through infrastructure bond issues if the government provided tax benefits for investors in these longer-term instruments.    Many commercial banks have a large exposure to the infrastructure sector, but face an asset-liability mismatch because they mobilise short-term deposits, whereas infrastructure lending is typically long term.    Infrastructure funding, which the government is focussing on to sustain 9 per cent economic growth, is likely to figure prominently in the Budget. Chidambaram has said the infrastructure sector needs nearly $320 billion over the next five years.    In December last year, he appointed a committee headed by HDFC Chairman Deepak Parekh to suggest new instruments and measures to finance infrastructure development. The group is yet to submit its report.