Capital account scheme 1988
This query is : Resolved
21 June 2014
The assessee wants to deposit Rs. 1.00 Crore under CGAS 1988 for claiming exemption U/S 54.Whether bank can be instructed to pay monthly interest and credit it to Type B account ? Can this interest be used for any purpose other than construction / purchase of residential house ?
21 June 2014
in law not mention about the intt. you can not use or use . but amount to be use for the purchase of property.
in my opnion this intt. will taxable income for you.
and use for any purpose as you want.
in my opnion this intt. will taxable income for you.
and use for any purpose as you want.
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