Capital gain
This query is : Resolved
03 March 2014
a person earned LTCG and Put the money in CGAS. He pay the instalments in the next three years to a builder for flat under construction out of his other savings etc.equal to the capital gain earned.
He fulfill the terms of I/tax to pay the money for construction of flat within 3 years.What is the proceedure to close the account and withdraw the money.
He fulfill the terms of I/tax to pay the money for construction of flat within 3 years.What is the proceedure to close the account and withdraw the money.
03 March 2014
Arora Ji.
you need to approach the AO to sign Form G before you can close this account.
http://www.fintotal.com/0803/upload/Form%20G%20%28closing%20capital%20gains%20accounts%29.pdf
get AO to sign this. and then you can transfer balance from CGAS to a normal saving bank a/c.
you need to approach the AO to sign Form G before you can close this account.
http://www.fintotal.com/0803/upload/Form%20G%20%28closing%20capital%20gains%20accounts%29.pdf
get AO to sign this. and then you can transfer balance from CGAS to a normal saving bank a/c.
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