One tax efficient Systematic Withdrawal Plan (SWP) strategy is to PLAN:
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Invest a decent amount say 20L + in HDFC Corporate Bond Fund - Direct Plan - Growth or a similar option, available in the market,
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Do nothing with the above investment & wait for 3 Years, in between use Fixed deposit route, where TDS gets applicable.
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After 3Y, start SWP as per your requirement, say total expenditure is 30K per month, start two SWP, 15K in first week of month & 15K in the last week of the month.
https://www.valueresearchonline.com/funds/16109/hdfc-corporate-bond-fund-direct-plan/
Edit: Please verify the current rules for tax implications, expected returns and Risk associated with Corp bonds.
Two other options to study:
Floating Rate Savings Bonds, 2020 (Taxable)…to be held till maturity (cannot redeem earlier)
BHARAT BOND ETF
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