Ask Value Research

Tax on withdrawal from ELSS

You can invest in Equity Linked Savings Schemes (ELSSs) or tax planning mutual funds and claim tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act

Research Desk

What are the tax implications of withdrawing money from Equity Linked Savings Scheme (ELSS) after three years?
- Venkatesh

You can invest in Equity Linked Savings Schemes (ELSSs) or tax planning mutual funds and claim tax deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. They come with a three-year lock-in period.

Investors are free to withdraw the money after three years and they do not have to pay any tax on the returns at the time of withdrawal.

This article was originally published on December 03, 2015.

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