Reliance Liquid Treasury Fund has declared a heavy dividend of 20 per cent (Rs 2.00 per unit) in its weekly dividend (reinvestment) plan. The record date for the same is March 22, 2002.
Currently, debt funds deduct a distribution tax of 10.2 percent and the dividend is a tax-free income for investor. As the current tax rules expire on March 31, 2002, perhaps this is the last opportunity for the dividend plans of funds to be lavish with their dividend. By paying dividend now, investors will be charged the lowest possible tax on their gains, in case of debt funds. This is what Reliance Liquid Treasury Plan has done.
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