I found this intersting Question and the corresponding answer on Business Standard & ValueResearchOnline<\/p>\n
I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete?<\/p>\n
ELSS are tax-saving funds, with a lock-in period of three years that allow investors tax deduction of investment up to Rs 1 lakh. One should plan out these investments, rather than investing at a whim. You can withdraw your investment if you are able to secure a certificate from the income tax department that you haven\u2019t made a claim against this investment.<\/p>\n
I don’t know How true it is? But it comes from a very respectable newspaper. As far as I know ELSS products are so designed that money cannot be withdrawn from them under any circumstances before completion of 3 year locking period.<\/p>\n
I found another link of Tata Mutual Fund – whcih says ELSS cannot be withdrawn before 3 years.<\/p>\n
Chintan: Can I redeem my investment before the lock-in period ends? Is there any liquidity option in ELSS investments?<\/p>\n
Gynanesh: No. The amount cannot be withdrawn before the end of the lock-in period. However, ELSS is definitely beneficial as compared to other tax-saving instruments, as the lock-in period is just 3 years compared to the maturity period of NSC (6 years) and PPF (15 years) respectively. Premature withdrawal from other tax saving instruments may be allowed on specific conditions.<\/p>\n
The earning potential of ELSS is high, although at a relatively higher risk. You can opt for the dividend option in ELSS; dividends are tax-free, thus ensuring some liquidity and the opportunity to book profits during the lock-in period.<\/p>\n
I really don’t know which one is right!\u00a0<\/strong><\/p>\n Readers if you have any similar experience or any know how about the same please let others know through comments.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" I found this intersting Question and the corresponding answer on Business Standard & ValueResearchOnline I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete? ELSS are tax-saving funds, […]<\/p>\n","protected":false},"author":1,"featured_media":4550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[64,4,63,6],"tags":[2806,465,2808],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS.png",1152,631,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS-300x164.png",300,164,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS.png",768,421,false],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS-1024x560.png",1024,560,true],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS.png",1152,631,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS.png",1152,631,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2010\/01\/Tax-Saving-Mutual-Fund-ELSS.png",120,66,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":2,"uagb_excerpt":"I found this intersting Question and the corresponding answer on Business Standard & ValueResearchOnline I had invested in ELSS (equity linked savings scheme) funds one year before, but I have not claimed this investment while filing for return. Can I withdraw from the ELSS, though the three-year lock-in is not complete? ELSS are tax-saving funds,…","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/213"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=213"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/4550"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}