Scripbox does not have any withdrawal charges. However, at the time of withdrawal, depending on whether your investments are classified as short-term or long-term, you may incur exit loads (to the mutual fund company) or capital gains taxes.
|Type of Investment||Exit Load|
|Equity||1% of sale proceeds if sold within 1 year of purchase|
|Debt||Usually none. Birla Sunlife funds impose a 0.5% exit load of sale proceeds if sold within 3 months of purchase.|
|Tax Saving||Not applicable as these equity investments cannot be sold before the 3 year lock-in period, thereby exceeding 1 year.|
Capital Gains taxes
|Type of Investment|
Holding Period to be
classified "Long Term"
Tax on Long-Term
Tax on Short-Term
|Equity||1 year from purchase||10% capital gains tax on gains over Rs.1 Lakh.||15% flat tax + cess|
|Debt||3 years from purchase||20% tax after “indexation”: a process by which you can adjust your purchase cost upwards based on inflation||Tax based on your income tax bracket (10% or 20% or 30% + cess)|
|Tax Saving||3 year lock-in for these equity funds to be eligible for section 80C income tax deduction||No tax as 3 years would have passed before they are eligible for withdrawal||Not applicable as these investments cannot be sold before the 3 year lock-in period|