Redeeming units in less than a year will attract exit load as well as short-term capital gains tax
11-Apr-2013 •Research Desk
I have switched regular plan units to direct plan in January this year. At the time of switching units were more than one year old. I wish to redeem few units now as I urgently need money. Will redemption attract exit load. -Y L Gawali
Redeeming units from direct plan will attract exit load as well as short-term capital gains tax. This is because switching to the direct plan is considered a new investment and you will be redeeming your investment in less than one-year of investment.
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