Is it possible to redeem Equity Linked Savings Schemes (ELSSs) before the completion of lock-in period. I am planning to invest ₹10,000 per month. However, there are chances that I might do my MBA in 2017 fall. If that happens, I need to withdraw the money.
- Saswat Sahu
Every tax saving investment comes with a mandatory lock-in period. Equity Linked Savings Schemes (ELSSs) or tax planning mutual funds has a mandatory lock-in period of three years. It is not possible to redeem your investments in ELSS before the completion of of the mandatory lock-in period.