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Franklin Templeton announces tax-free dividend in India Taxshield

All investors registered in the Dividend Option as on January 24, 2014 will receive this tax-free dividend

January 20, 2014 3:00 IST | India Infoline News Service
Franklin Templeton Investments (India) has announced a tax-free dividend of Rs.3.00 per unit (Face Value of Rs.10), in its open end equity linked savings scheme- Franklin India Taxshield (FIT). 

All investors registered in the Dividend Option as on January 24, 2014 will receive this tax-free dividend. Pursuant to payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy (as applicable).Investment of up to Rs.1 Lakh in FIT during the financial year would be eligible for tax benefits under Section 80 C of the Income Tax Act, 1961.

The record date for the dividend is January 24, 2014 and any purchases on or before this date will be eligible for the dividend. Under the dividend reinvestment plan, the dividend declared will be reinvested in the Fund at the NAV ofJanuary 27, 2014 and unitholders will be allotted additional units for the dividend amount.

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