Can I withdraw from ELSS before 5 yrs , if I have not taken 80C benefit ?

POSTED BY Ankit_Ashok ON July 17, 2014 11:12 pm COMMENTS (2)

Hi,

Can I withdraw money from a direct ELSS mutual fund prior to it getting to 5 years, if I have never claimed 80C tax benefit on the same?

On a seemingly separate topic, is there a service that one can use to track and transact on direct mutual funds from different AMCs?

I had invested in a few direct funds – but later I realised that the operational headache of tracking them can mean that I lose all my money, so want to get out of direct funds.

2 replies on this article “Can I withdraw from ELSS before 5 yrs , if I have not taken 80C benefit ?”

  1. Hiteshjain03 says:
    July 19, 2014 at 11:48 am

    Hi,

    Money in tax saver is for 3 years only.

    For tracking your direct investment, best is to register your email id in all the folios of mutual funds. Once email id is updated you can get the latest valuation and portfolio statement from CAMS website. camsonline.com – investors zone.

    Also you can download their application called myCams, which will help you to check your portfolio on the move.

    Reply
  2. Sumit says:
    July 18, 2014 at 1:58 pm

    Locking period of ELSS is 3 years, not 5 years.

    I use Moneycontrol’s portfolio management, to have a consolidated view of all the mutual funds from different fund house. Nice and user friendly, with lots of other feathers like sector allocations, analysis etc.

    Sumit

    Reply

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