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Thursday, May 30, 2013

What is a Monthly Income Plan?

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Monthly Income Plan popularly known as MIP is a debt oriented hybrid mutual fund product. In MIP Equity is allocated in between 5% -25%, and the balance would be the debt allocation. The Investment objective of Monthly Income plans read as , " To generate regular returns through investment primarily in Debt and Money Market Instruments , also to generate long-term capital appreciation by investing a portion of scheme's assets in equity and equity related instruments". Though the objective is to provide regular returns, but the regularity and quantum is not assured. Advisors/Planners do advise on MIP to supplement the goal of regular returns and also to provide some tax efficiency in client's profile. MIPs also get advised in growth option if client portfolio and risk profile demands.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

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