Can I save tax if withdrawn from mutual fund within a year Rajan Lakhani, 10 Sep 2012

Can I save tax if invested in a mutual fund and withdraw the amount within a year?

Fintotal Answer

You can only save tax if invested in ELSS funds. They carry a minimum lock in period of 3 years . You can invest in Canara Robeco Equity Tax Saver , ICICI Prudential Tax Plan and Franklin India Tax Sheild. Besides all equity mutual funds have zero long term capital gains tax. Rajan I suggest you visit this article - Capital Gains Tax Rates - to get an idea on the rates.

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