Monthly Income Schemes in India

What is MIS Scheme?

Types of MIS Scheme

FAQs About Monthly Income Schemes (MIS)

Is Monthly Income Scheme in Post Office Taxable? up-arrow

Yes. There are no tax benefits on post office MIS.

How can I close my Monthly Income Scheme in Post Office? up-arrow

To close your POMIS, you need to submit an application in Form 3 along with your passbook to the post office.

How many MIS Accounts can you open in Post Office? up-arrow

You can open multiple accounts in the post office. However, the total deposit amount in these accounts cannot exceed the upper limit as prescribed for different kinds of ownerships.

Does adding SWP (Systematic Withdrawal Plan) to your MIP add any extra benefit than the Dividend Option? up-arrow

Dividend option in mutual fund investments pays the accrued returns to the investor quarterly. Since this is return based, it’s not a fixed amount.

However, in case of SWP, a fixed amount is paid to the investor on regular basis.