A significant part of my ELSS investments will be completing its three-year lock-in period next month. Should I redeem the funds and invest again for tax benefits under Section 80C?
- Anuj
Two reasons why one should ever redeem a tax saving fund or any equity fund are-the fund is doing poorly or you are tight on budget and don't have enough resources. Only in these two cases it makes sense to take your money out and invest again to get the tax-advantage. But if there is no such need, one should look at tax-saving avenue as a long term investment and use it as an excuse to accumulate savings.
This article was originally published on January 18, 2019.
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