Tax on mutual fund

Sri (Engineer) (24 Points)

31 July 2014  

I have an active SIP for a tax friendly mutual fund (2k per month). I started this more than 3yrs ago. Can I start withdrawing 2k per month from now on (without tax implications) while still continuing to invest 2k per month in the same fund. That way I can cycle the money while still getting tax benefit for the 2k investment that I will continue to make every month. Is there any rule - either from banks or IT department - that restricts me from doing this?