Tax benifit with Investing without locking period?

Question

I need such mutual fund that can give me tax benifit without any locking period so that ican withdraw money any time for my urgent needs

Is there another way of investing that gives me freedom to withdraw money or take a loan on my investment But it must be tax saving investment

Answer 1

Tax benifit is only for Tax saving Mutual Funds (also called ELSS) & those have locking of 3 years.

All tax saving instruments have locking period & it is minimum in Mutual fund

Answer 2

Dear Amol

There is no way you claim tax exemption and withdraw before lock in period of three years.

Next best thing is to choose a mutual fund which is going to give good dividends. This way your all money will not be blocked for three years, say around half funds will be paid back by way of Dividends.

Please stay in touch with me on :
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to know such MF Tax Saving schemes

Answer 3

I wouldn't use this as a method of birth control. What you are proposing is called the rhythm method, to have unprotected sex on days that you are less likely to conceive. (Quick question, what do you call people who use the rhythm method for birth control? Answer: Parents!) Ovulation generally happens AROUND cycle day 14 (Cycle days are counted from the beginning of your last period). Let's assume that your period lasts for 5 days. The first day after your period is cycle day 6. Sperm can live inside of you for up to 72 hours. If your ovulation was regular and the sperm didn't live more than 72 hours you might get away with unprotected sex for 4 or 5 days. Some would also have unprotected sex from cycle days 21 through your period. I am assuming you are in a committed relationship where STD's are not an issue... In general, even if you have unprotected sex in your most fertile time you have about a 1 in 4 chance of getting pregnant (most people - you could be really fertile - or not). Good luck!

Answer 4

Try foreign mutual funds or ETFs with dividends. You will see a statement saying you paid foreign taxes on a form from either your broker or the mutual fund company (mine is a one page joint form that covers several different forms although it's labeled on the top "1099"). You can deduct up to $300 ($600 jointly) of this money on line 44 of your 1040 form. This isn't just an ordinary deduction since this amount is subtracted from your gross income, but from the gross amount you are expected to pay (more bang for the buck).

Answer 5

Look Into a Tax-Free Money Market. Some are even Tax Free on the state level besides the Federal level. You might want to speak to an ivestment advisor first to be sure you are on the right track.

Answer 6

THANKS FOR THE POINT IDK DON`T KNOW...;