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Exit Load on ELSS

Sanjay Patil wants to know if he would have to pay an exit load when he withdraws his money from an ELSS

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.



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