SBI Mutual Fund has announced the statement of dividend on the features value of Rs. 10 per unit below dividend choice of ‘magnum tax gain scheme 1993’. The documentation date for dividend has been set as 18 March 2011The quantum of dividend will be Rs. 4.00 per unit as on the documentation date. The plan recorded NAV of Rs. 39.01 per unit as on 10 March 2011&the purpose of the scheme are : (1) Deliver the advantage of savings in a portfolio of equity shares, whereas offering deduction on such savings complete in the plan below section 80C of the Income Tax Act, 1961 and , (2) Distribute income periodically depending on distributable surplus.
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