Sbi Magnum Taxgain '93

[nkr_03]

Fully Tax Free

[Vicky78]

the amount obtained through dividend is taxable

[mrindia]

Actually the dividend obtained is tax free. The interest you accure on this dividend (say- if u keep it in saving acc or so) will be taxable depending upon your tax planning.

[NitinK]

Sorry, but i could not understand your point on interest. Can you please explain it in more detail?

[Vicky78]

When the dividend is declared, it can be taxed.
Dividend Distribution tax I guess it is 20% for short term and 10% for long term.

Please correct me if it is incorrect.

[akpinku]

Hi Dear
Divident Received From Any Mutual Fund Scheme Is Taxable In The Hand Of Amc Co Not In The Hand Of Investors. And In My Openion Go For Divident Reinvestment Option So That U Can Clain Reinvested Devident As Ur Fresh Investment For The Tax Saving Purpose.

[mrindia]

Originally Posted by NitinK

Sorry, but i could not understand your point on interest. Can you please explain it in more detail?

Dividend declared is tax free at the hands of investor. Assume that u earned 5k dividend from ur ELSS units & this ammount lies in your saving account for X months. The interest it gains while lying in saving acc will be taxable. Thats why dividend re-investment is better option so that dividend amm is again invested automatically in ELSS(tax free). Hope doubt is clear!!

[Vicky78]

Originally Posted by akpinku

Hi Dear
Divident Received From Any Mutual Fund Scheme Is Taxable In The Hand Of Amc Co Not In The Hand Of Investors. And In My Openion Go For Divident Reinvestment Option So That U Can Clain Reinvested Devident As Ur Fresh Investment For The Tax Saving Purpose.

Hi!

If the dividend in taxable in the hands of the AMC would they not be deducting that in the NAV?

Thanks!

[magnet]

whats the present status lot of ppl saying its closed now.....but its an open equity fund..any idea guys???

[kc_624]

its not closed...I have bought it for the first time one week back........