Hi
I plan to start a monthly SIP of Rs 1000 in 5 conservative debt-oriented mutual funds like HDFC MIP plan, UTI Mahila plan etc. These funds invest 20-30% in equity and rest in debt-market.
What would be my tax liability if i stay invested for 15-20yrs. I’m planning to invest in these funds mainly for child education.
Assuming a conservative return of 8% for the next 20 yrs and assuming that i invest Rs 5000 per month, the corpus would be around Rs 30 Lac. So what would be my approximate tax liability.
regards
Mukesh