Mutual fund

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Akshata Parab

Akshata Parab (Querist)
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21 August 2014 Dear sir

Please tell me the head of Mutual fund amount received & bajaj auto policy.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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

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Rupesh Jain

Rupesh Jain (Expert)
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22 August 2014 mutul fund taxable amount depended on its eligible u.s 80c or not and theses are equity link or not . it taxable under the long term capital gain or short term capital gain.
amount from LIC is not taxable it is capital receipts.

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