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SBI MAGNUM TAX GAIN SCHEME´ 93
What is the scheme about?
- This is a Tax Saving Scheme
- Investment under this scheme upto Rs.1,00,000 (One Lakh) will have benefit of tax rebate under Section 80 C
Features of the Scheme:
- An open ended ELSS scheme
- Minimum Amount: Rs.500
- Statutory Lock-in Period of THREE (3) Years
- Entry Load: 2.25%
- Ideal for retail investors planning to save Income Tax through investments under Section 80 C, with the returns of equity investments.
Why Should You Choose?
- Scheme floated by India’s Largest Bank SBI’s AMC and professionally managed.
- Consistent performer and outperforming its peers.
- Tax Free Dividend at the rate of Rs.10.20/- per unit (Record Date June 10, 2005)
- Tax Benefits under Section 80 C
- Market Linked Returns on your investments.
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Illustration:
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Amount of Investment
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Rs.10000
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Current NAV
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Rs.46.07 Per Unit
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As of June 3, 2005.
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Allotment Units
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212.17 units (Approx)
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Deducting 2.25% entry load.
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Dividend / Unit
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Rs.10.20
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Total Dividend Receivable
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Rs.2164.134
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Decrease in Tax Liability
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Rs.3000
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Assume 30% Tax Bracket
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Net Investment
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Rs.4835.866
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Performance of the TOP 3 Schemes in the Tax plan category
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Scheme Name
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Category
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1 Year Return (in %)
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3 Years Return (in %)
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SBI Magnum Tax Gain Scheme 93
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Tax Plan
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148.8601
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67.3360
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Prudential ICICI Tax Plan (Growth)
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Tax Plan
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116.7082
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61.8335
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Prudential ICICI Tax Plan (Dividend)
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Tax Plan
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116.7279
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61.8181
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HDFC Tax Saver Fund (Growth)
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Tax Plan
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102.8026
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60.6253
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HDFC Tax Saver Fund (Dividend)
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Tax Plan
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102.8024
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60.6014
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Hurry! Invest before June 09, 2005 and reap the benefits.
Contact: Mr.K.V.Gururaj
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Union Budget