Unfair

I desired to repurchase at the offered rate of Rs 3,405. IBMF also had stated that they would deduct 20 per cent tax and remit only the balance amount. As there is a TDS provision, I accepted. But it was surprising when IBMF deducted 20 per cent on Rs 10,000 and refused to deduct 20 per cent on the repurchase value.

When I objected to this, I was told that this was the rule. There cannot be more unrealistic and unscientific argument than this. Will IBMF correct themselves and be investor-friendly?