Capital gain account payments mode
This query is : Resolved
15 March 2022
Namaste sir's
1) I sold one vacant site in Bangalore for 24 lakhs and deposited in capital gain account at canara bank
2) Now I'm in a process to buy 13 years old flat for Rs 40 lacs in Bangalore
3) home loan I'm taking 20 lakhs that gets credited to seller after registration
4) From capita gain account 20 lakhs DD will be given to seller
Whereas the balance 4 lakhs can i withdraw in cash part by part for incidental expenses like
Minor renovation works
Wall painting and doors polishing
Electrical and plumbing repair works and replacements
Please advise
1) I sold one vacant site in Bangalore for 24 lakhs and deposited in capital gain account at canara bank
2) Now I'm in a process to buy 13 years old flat for Rs 40 lacs in Bangalore
3) home loan I'm taking 20 lakhs that gets credited to seller after registration
4) From capita gain account 20 lakhs DD will be given to seller
Whereas the balance 4 lakhs can i withdraw in cash part by part for incidental expenses like
Minor renovation works
Wall painting and doors polishing
Electrical and plumbing repair works and replacements
Please advise
15 March 2022
Yes you can withdraw the remaining 4 Lakhs in parts.
Any amount withdrawn from the CGAS is required to be utilised for specified investment within 60 days of withdrawal and any unutilised amount should be desposited immediately.
Any amount withdrawn from the CGAS is required to be utilised for specified investment within 60 days of withdrawal and any unutilised amount should be desposited immediately.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
