Mutual fund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2014
Dear Sir/Madam.
what is a head of canara bank mutual fund amount received & bajaj auto policy in tally 9
what is a head of canara bank mutual fund amount received & bajaj auto policy in tally 9
Nikhil Kaushik
(Expert)
21 August 2014
depends on the facts of case. the mutual fund amount is to be classified between equity and non-equity scheme and then between short term and long term capital gains.
insurance receipts in term of principal amount are to be treated as capital receipts and interest portion is to be taxed as income from other sources
insurance receipts in term of principal amount are to be treated as capital receipts and interest portion is to be taxed as income from other sources
Rupesh Jain
(Expert)
22 August 2014
mutul fund is taxable under the long term and short term capital gain. and life insurance amount is capitl;a receipts.
received from MF credit to MF a/c
and if you have Bajaj life a/c then credit the same otherwise credit the capital a/c
received from MF credit to MF a/c
and if you have Bajaj life a/c then credit the same otherwise credit the capital a/c
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