Can I withdraw a part of my investment in SIP?

Yes, an investor can withdraw his/her investment in part or fully in SIP. However, before doing so an investor must take into consideration the following points:

• Stop your SIPs- Before you decide to withdraw, ensure that all your Systematic Investment Plans (SIPs) are shut. If your SIP is going on you need to give a special mandate to close it.
• FIFO rule- As per the standards, the units that were purchased first will go out first. This is the First In First Out (FIFO) rule of mutual funds industry.
• Time period- You cannot withdraw units that have not completed an year yet, or else you would have to pay short term capital gain tax of 15% excluding surcharge and cess. Some cases may also involve an exit load on such units.
• Lock-In period- Ensure that the lock-in period of the fund you invest is in has exhausted. For instance, ELSS has a lock in period of 3 years prior to which you cannot withdraw SIP.

Yes, it is possible to withdraw a part or full amount of the investment in SIP.

However, following points need to be considered regarding this aspect-

1. Lock- in period : Unlike other mutual fund schemes, ELSS is different from the sense that there is a minimum lock-in period of 3 years in any/all ELSS schemes. Under ELSS schemes, premature withdrawal is not allowed before the completion of lock-in period. 

2. Tax implications : According to policies regarding taxation on mutual funds, equity funds attract an tax of 15% for Short term capital gains and Nil for Long term capital gains (greater than 1 year). For debt funds, short term capital gains attract a tax as per individual tax slab of the investor, while long term capital gains (greater than 3 years) attract a tax of 10% without indexation or 20% with indexation.

3. Exit Load: Some schemes carry exit load upon withdrawal of investment. Most of these apply when an investor, exits before 1 year.

Yes, you can.

However, you will have to consider the following three points through. 

1. Are you investing in ELSS? ELSS carry lock-in of 3 years, so you will not be able to redeem SIP installments that were done in the last 3 years. In your case, you will we able to withdraw for 1 year worth of SIP (that is 25%)

2. Tax implications: If you have been investing in equity funds, there would be no tax if you withdraw after one year. Hence for your case, you can withdraw 50% (first 2 years of SIP) without any tax. If you  have been investing in debt funds, you have to pay tax according to your tax slab if you redeem before three years and marginal tax after that. So in your case, for your SIPs done in 1st year, you will have to pay marginal tax (20% minus indexation). However for the remaining, you will have to pay according to your tax slab. Do check out this post on taxation on mutual funds. 

3. Exit Load: Some schemes carry exit load when you withdraw. Most of these apply when you exit before one year. In your case, the probability of any exit load is very low.