Should I continue with Aditya Birla Sun Life Tax Relief 96 Fund?
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Aditya Birla Sun Life Tax Relief 96 Fund is an Equity Linked Saving Scheme (ELSS) or a tax saving fund. Investments in it qualify for a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. However, these schemes have a mandatory lock-in period of three years. You cannot sell the scheme until each SIP installment completes three years. So, you have no option but to wait for the expiry of the mandatory lock-in period. However, you need not fret about it as schemes go through ups and downs. Unless they underperform severely for a year or two, you need not bother about it. In this case, anyway you don’t have an option but wait for some more time.