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Tata Income Pays Heavy Annual Dividend

Tata Income Fund has paid a heavy dividend of 70 per cent (Rs 7 per unit) in its recently introduced annual dividend option. To provide investors with tax-free dividend, the fund introduced a yearly dividend option on March 21, 2002. From April 1, 2002, investor will have to pay tax according to the tax bracket in which his taxable income falls. The fund has been carved out of the existing Growth scheme of Tata Income.