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
- Regarding CA foundation Exemption (Direct Entry Sc
- CFSS Scheme
- Transfer of ITC from individual to LLP
- Query of Goodwill
- Remuneration to Partners
- Request For Dhirajlal Rambhia
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
Related Threads
CAclubindia
