Tags:
Journalism of Courage
UTI Mutual Fund today declared tax-free dividend of 10 per cent for its scheme–UTI Equity Tax Savings Plan (UTI-ETSP).
The record date for the dividend is February 21,the company said in a statement.
All unit holders registered under the dividend options of both the schemes as on February 21 would be eligible for dividends.
As on February 15,the NAV per unit of UTI Equity Tax was Rs 16.35 under the dividend options.
Launched in November 1999,UTI-ETSP is an open-ended equity oriented tax savings scheme. The corpus of the fund is invested in equities,fully convertible debentures/bonds and warrants of companies.
Investment in this scheme would qualify for deduction,subject to a maximum of Rs 1,00,000 under Section 80C of Income Tax Act.
