PERSONAL TAX: Lock-in for tax-saving MF SIPs will apply to each unit individually

I am investing in tax-saving MF though monthly SIP for which lock-in period is three years for last five years, with some additional lumpsum purchase in between. How can I know how much I can encash at any particular time which has completed three years of lock in period? – A Dechaudhari

The amount invested in units of tax-saving MF through monthly SIP is eligible for withdrawal on completion of lock-in period of three years from the date of purchase of said units individually. The period of three years shall be considered for each such investment separately. However, we would advise you to get in touch with your financial advisor in order to address your query specifically and get details of encashment.

I extended my PPF account and it will mature in 2022. Can I extend it again? Or can I open another account in my minor daughter's and invest Rs 1.5 lakh in that for 15 years? – Shruti Punjabi

PPF account can be opened in the name of self, spouse or children. A subscriber may extend the PPF for a block of five years according to the limits of subscription specified in the scheme. Extension can be made even on the expiry of the extended block of five years and so on. So, you can extend your PPF account further for a block of five years.

The expert is Director, Nangia Advisors (Andersen Global).

Clear your doubts with regard to personal tax. Send your queries to personalfinance@dnaindia.net