Capital gain deposit withdrawals
This query is : Resolved
27 April 2022
Sir, what are the procedure to file Form C (withdrawal) and Form G (Closed) of closing of Capital Gain Deposit with Bank. Actually, we make application to Bank Officer or Assessing Officer?
27 April 2022
Make application to the bank officer.
Practically, AO doesn't grant approval till the time all due taxes have been paid. I would suggest you fill FORM C for withdrawal of funds in order to pay taxes and then apply for closure. If the withdrawal is not allowed by the bank then ask the AO to instruct the bank to allow withdrawal for payment of tax, in case of funds not utilised and taxes payable.
Practically, AO doesn't grant approval till the time all due taxes have been paid. I would suggest you fill FORM C for withdrawal of funds in order to pay taxes and then apply for closure. If the withdrawal is not allowed by the bank then ask the AO to instruct the bank to allow withdrawal for payment of tax, in case of funds not utilised and taxes payable.
Message likes :
1 times
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Transporter Declaration form
- Annual return in Gst
- Before GSTAT- APL-02 Vs APL-04
- FORM 26A APPLICABILITY
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
