SBI Magnum TaxGain Dividend Reinvestment Mutual Fund(India)?

Question

I had bought few units of the SBI Magnum Taxgain Dividend Reinvestment Mutual Fund 3 years back. The lockin period for this MF is of 3 years. In the last 3 years i have got few units as dividend and added to my portfolio. I want to redeem my entire units in this MF. But i am not sure whether i can do so, because few units which i got as dividend are not completed the 3 years lockin period. Could someone guide me how to redeem my entire units.

Answer 1

Best Answer - Chosen by Voters

You can only redeem units which have completed three years.

http://www.investingmantra.com

Answer 2

Dear,
You have completed your funds lock in period.So fill up redemption request and submit the same to designated service Centre ,means AMC office or registrar office .Within days your redemption amount will be credited to your account after deducting taxes if any.Normaly 0.25% STT,17% For profit.
GOOD LUCK

Answer 3

No. The units which have been purchased at a later stage also need to complete 3 yrs, before you can sell them

Source(s):

http://marketlive.in/mutual-funds/mutual…

Answer 4

I feel the units allotted as dividend are not taxable . So I feel you can redeem your investment without attracting any tax.