What is Monthly Income Plan? are they tax efficent ? which one is best?
Asked by Ritesh Singhal, 03 Apr '10 10:54 am
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All are sameAnswered by RSehgal, 04 Apr '10 05:29 pm
Monthly Income Plan commonly known as MIP is a mutual fund scheme which invests maximum in Debt Market i.e. government securities and Corporate Bonds and about 15 to 20% in Equity Maket. It is a better option rahter putting money in bank FD. Yes they are tax efficient because they come under capital gain tax head where bank FD interest is directly added to your income.Only thing is that MIP are market related, so your time horizon should be 1 to 2 year.HDFC MIP Long Term and Reliance MIP are good in this category.Answered by Pankaaj Maalde, 03 Apr '10 02:20 pm
PLI PlanAnswered by Never Mind, 03 Apr '10 10:59 am