I started investing in SBI Magnum tax gain (D) for tax saving in the year 2006. I was purchasing units on lumpsum every year till last year 2010.
Can I redeem the units that are allocated in the years 2006 and 2007 as the required lock in period of 3 years is over for those two years investment? Is is First in First out treatment only for redeeming these ELSS units? Please clarify.
Or putting my question like this…how to calculate the 3-year lock in period and when can we redeem ELSS funds??
And also please suggest another good ELSS fund, as I feel SBI Magnum tax gain is not performing well. I want to redeem these units and invest in another ELSS now.