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?
Menu
Tax on mutual fund
Replies (1)
Hi Sri
Every instalment SIP which has completed 3 years f holding eriod can be redeemed without any tax implications. And you can keep on investing through SIP in the same fund. Needless to say that the fund should be tax saving ELSS fund
Trust this may have helped
Uteesh Dhar
uteesh @ yahoo.com
Recent Threads
- Duplication of Interest on SCSS deposits in postof
- Declaration of foreign investment
- Parent buying property for major child
- LIC maturity amount filing missed
- Advice on income tax
- E filing thr net banking for AY2025-26
- PROPERTY REPORTING IN ITR
- F&o profit or loss can show a government emplo
- Tax Query for FY 2024-25
- ITR Offline JSON Utility not showing saved drafts
Related Threads
CAclubindia
