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Taxation of sbi magnaum tax gain mutual fund

This query is : Resolved 
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(Querist)
22 July 2013 Dear Sir,
Investment in SBI Magnum Fund is deductible under section 80C.But while redemption of such fund,if the profit is realised then how will it be taxed.

Please solve my doubt.

Thanks in Advance

Regards
Dhiraj Kumar
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 August 2013 There is a minimum lock-in period of 3 years in case of such funds. gain arising on units redeemed AFTER the lock-in period are exempt from tax.
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