Capital gain account scheme
This query is : Resolved
25 September 2012
What is the Procedure to Withdraw an Amount From the Capital Gain Account Scheme?
Amol S Joglekar
(Expert)
25 September 2012
You need to file a form to that effect with the concerned ITO (Assessing Officer)He then directs the bank to close the account. ( Many bankers close this account as if like a normal savings bank account... if you want you can try that option as well)
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25 September 2012
i) For the first withdrawal an application in form C has to be made to the bank.
ii) For subsequent withdrawals form D has to be given to bank stating therein the manner and extent of utilization of the amount of immediately preceding withdrawal.
iii) For closure, with the approval of the Income tax Officer, form G has to be filed in bank.
ii) For subsequent withdrawals form D has to be given to bank stating therein the manner and extent of utilization of the amount of immediately preceding withdrawal.
iii) For closure, with the approval of the Income tax Officer, form G has to be filed in bank.
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