Have you planned for your Tax Savings this year ?
The academic year 2010-2011 is going to end and you have to file your returns. Most of them might have invested some of their earnings in Tax savings instruments to save taxes. Some of you must have taken a home loan for saving tax.
Some of you must not have invested your money in tax savings instruments. If you are in such a situation, here is a way. SBI magnum tax gain scheme has declared dividend for its scheme.
SBI Magnum Taxgain Scheme (1993) has declared a dividend of Rs 4 per unit on the face value of Rs 10 per unit. The Record date for this dividend to be distributed is 18-March-2011. The main objective of this scheme is to invest in a portfolio of equity shares and also you can get tax benefits under Section 80C of Income Tax Act.
Entry Load: NIL
Exit Load: NIL
Lock In Period: 3 years
Minimum Application Amount: Rs 500 and in Multiples of Rs 500
Systematic Investment Plan – Yes (Rs 500 / month for 12 months or Rs 1000 per month for 6 months or Rs 1500 / month for 3 months)
Systematic Withdrawal Plan – Yes
Online Investment Option - Yes
Happy Investing!!
Disclaimer:
“Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. Please read the Statement of Additional Information and Scheme Information Document carefully before investing”.
“In Mutual Funds, the past performance is not guaranteed in future”.
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