Equity oriented fund definition expanded to include certain unit linked insurance policies, affecting long term capital gains tax. Amendment expands the definition of equity oriented fund to include schemes of insurance companies comprising unit linked insurance policies where ... Summary
Equity oriented fund definition expanded to include certain unit linked insurance policies, affecting long term capital gains tax.
Amendment expands the definition of equity oriented fund to include schemes of insurance companies comprising unit linked insurance policies where exemption under clause (10D) does not apply due to applicability of its fourth and fifth provisos, thereby bringing such schemes within the scope of tax on long term capital gains under section 112A.
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