To get some regular monthly income in hand, Rita (name changed), a housewife, used to accumulate whatever money she gets to invest in the dividend payout option of a equity-oriented balanced fund, offered by a leading Asset Management Company (AMC) having repute of providing consistent monthly dividend for many years.
Initially, she was very happy with over 10 per cent annual dividend payable monthly as there was no Dividend Distribution Tax (DDT) on dividend distributed by equity MFs.
