Capital gains deposit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 IF ANYONE HAS DEPOSITED MONEY IN BANK IN CAPITAL GAINS ACCOUNT IN FORM OF FD, CAN HE WITHDRAW INTEREST THEREUPON. PLEASE GIVE REFERENCE

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 there cannot be such investment of fd for capital gain.....as there is speacial account in this regard.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 there cannot be such investment of fd for capital gain.....as there is speacial account in this regard.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 there cannot be such investment of fd for capital gain.....as there is speacial account in this regard.

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 I AM ALSO TALKING ABOUT THE SAME ACCOUNT.....PLEASE REPLY ABOUT INTT. WHETHER IT CAN BE WITHDRAWN OR NOT?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 July 2014 1. please note that CAGS account can be in form of a FD (term deposit)

2. yes you have the option of withdrawing interest.

however, please note that this interest (whether withdrawn or not) shall be taxed as income from other sources.

Tushar - you may refer Para 4(3) of CAPITAL GAINS ACCOUNTS SCHEME, 1988