31 August 2016
I have moved money into a capital gain account in a bank.now please let me know if the interest earned through this account should be mandatory for buying/building a house or can I use it for other purpose as well.
31 August 2016
The Interest on such account is not tax free and TDS also liable to deducted from such account.so, it will be consider your income from other source hence you can use it for any other purpose. Thanks.
22 April 2017
Thanks but I have parked funds in the capital gains savings account.Now according to u the principal amount to be used for purchasing property but what about the interest generated from this amount.Any withdrawals from this account needs form c and d to be filled
CAclubindia
