The Hindu Business Line : Canara MF to pay 30% on tax saver scheme

Kochi March 26 Canara Robeco Mutual Fund has declared an income distribution of 30 per cent on its Canara Robeco Equity Tax Saver scheme. The scheme is an open-ended equity linked saving scheme, which has a face value of Rs 10.

The investment objective of the scheme is to provide long-term capital appreciation by predominantly investing in equities, a press release issued here said.

Investments in the scheme, up to a limit of Rs 1 lakh, are exempted from income tax under Section 80C of the Income Tax Act and the repurchase of the units under the scheme can be made after a lock-in period of three years from the date of allotment.

March 28 has been fixed as the record date and the NAV of the scheme is Rs 18.06. .

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