Tax saving Mutual fund in form of monthly SIP are readily available in money market. To avail the Taxable benefit lock in period of 3 years is applicable. My query is w.r.t. redemption of Mutual fund after 3 years. Since we are investing on a monthly basis. But after 3 years we can withdraw the full amount.
Since 3 years lock in period was completed for 1 month SIP only, will the withdrawal of entire money after 3 years be Taxable??
Need suggestion to resolve the query.
Dear Sir,
The entire amount will be redeemed in a series of redemptions where each point investment has completed 3 years.
So you cannot withdraw the entire investment upon the completion of 3 years of the investment made at first point.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
CAclubindia
