MF & Taxation

I have two types of investments in Mutual Funds

1. In Jan 1020, I started SIP in some diversified and balanced fund for one year. Now if I sell all my holdings, will it attract any Tax?

2. In July 2008, I had started SIP in ELSS Funds for Three years, which is still continuing. If I sell all my holdings in July 2011, is there any Tax liability?

Can someone guide me for the basics of taxation for MFs ?

For ELSS Investment Lock in period for 3 years

your first sip for elss july 2008 it's mature after july 2011
& AUG 2008 SIP mature after aug 2011

Everyone knows that lockin period for ELSS is three years. What I had asked was the interpretation of 3 years term, which you have not answered.

Please reply only if you know the correct answer, and not what you would think it is.