Dear Friends,
We are aware that any interest earned on money invested in Equity MF for more than a year is tax-free. But how does it work in case of a SIP. In SIP money is invested every month. So, for example, if I start a SIP of 5000 p.m. in an Equity MF and redeem after one year, how does tax calculation work for money invested in 2nd month onwards because that has not completed one year.
Pls advise.