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BiFeO3 is one of the most important multiferroic materials studied for its interesting properties at room temperature. Analysis of the recent reports shows that the co-substituted BiFeO3, i.e. substitution for Bi and Fe sites simultaneously, exhibits improved magnetic and electric properties. Depending on the type of substitution, there is a change in the particle size, electrical as well as magnetic property of the material. An attempt has been made to synthesize pure and (Tb, Mn) co-substituted BiFeO3 ceramics by solid state reaction method and to explore their structural and magnetic properties.