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I had bought Reliance Mutual Fund ELSS on 13-10-2005. Now, on completion of 3 years I have to withdraw it. Can you please suggest me how should I go ahead with this and will the amount have an exit load? Will the profit be taxable?
—Sanjay Patil
Equity Linked Saving Schemes contains a 3-year lock-in period after which you can withdraw your money from the fund without paying any exit load. Since it is an equity fund held for more than a year, your profits are exempt from tax.
This article was originally published on September 22, 2008.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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