How To Redeem ELSS Before 3 Years?
5paisa Research Team
Last Updated: 02 Jan, 2025 12:53 PM IST
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Content
- What is ELSS?
- Benefits of ELSS Funds?
- How to redeem ELSS before three years?
- What is the penalty for withdrawing from ELSS before 3 years?
- Conclusion
How To Redeem ELSS Before 3 Years? In India, an ELSS (Equity Linked Saving Scheme) is a tax-saving mutual fund with a three-year lock-in period. However, there may be times when investors must redeem their ELSS assets before the lock-in period expires. It is possible to redeem ELSS before three years, however, there are repercussions. Early redemption of ELSS investments incurs a penalty in the form of tax deductions and may even result in the loss of previously claimed tax benefits. Before considering the redemption of ELSS assets prior to the expiration of the obligatory lock-in period, investors should carefully analyse their financial circumstances and tax implications.
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