Can I withdraw from ELSS scheme before 3 yrs ?

POSTED BY varsha kshirsagar ON November 6, 2013 2:19 pm COMMENTS (4)

Hello,

Recently to avail Tax Benefit, invested (Lumpsum Rs. 10k each) in BNP Paribas Tax Advantage Plan and Axis Long Term Equity Fund. But now wish to withdraw from one scheme.

So, my question is .. Can I withdraw now or do I have to wait for whole 3 years.

Is there any penalty charges to be paid for early withdrawal.. ?

Regards,

Varsha

4 replies on this article “Can I withdraw from ELSS scheme before 3 yrs ?”

  1. varsha kshirsagar says:

    Thanks All.. ๐Ÿ™‚

  2. ashalanshu says:

    Dear Varsha, as you invested for tax benefit, you can not redeem before lock in period.

    thanks

    Ashal

  3. Sumit says:

    Hi,

    You can withdraw your investment if you can get a certificate from the income tax department that you havenโ€™t made a claim against this investment and then approach the fund house for redemption.

    Thanks
    Sumit

    1. varsha kshirsagar says:

      Hello,

      Thanks for the reply.
      Apart from approaching Income Tax Dept, I guess there is no option .. ๐Ÿ™

      Regards,
      Varsha

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