Where should I invest to get regular income

I want to invest Rs. 5 Lakhs with a regular income as we are retired. Will that income be taxable? Please suggest. We have already invested in SBI magnum monthly income scheme Rs. 10 Lakhs?

Sep 12, 2016 by Suvra Mallik, New Delhi  |   Mutual Fund

You have already invested in SBI Magnum Monthly Income Plan and I am sure you are enjoying the monthly/ quarterly dividends.

Please note the the dividends received from MIPs in your hand is tax free but the AMC has to pay 28.84% dividend distribution tax.

If you want to invest another Rs. 5 Lakhs then you can either invest in the existing scheme that you have already invested in i.e. SBI Magnum Monthly Income Scheme or choose a suitable scheme from this link https://www.advisorkhoj.com/mutual-funds...

Hope the above helps!

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