CAPITAL GAINS ACCOUNT SCHEME

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Devendra

Devendra (Querist)
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30 October 2010 WHETHER INTEREST IS CREDITED IN CAPITAL GAINS ACCOUNT SCHEME?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 October 2010 i think yes

Devendra

Devendra (Querist)
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30 October 2010 WHERE IS THE CAPITAL GAINS ACCOUNT OPENED? I MEAN IN WHICH BANK?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 October 2010 Any PSU banks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 October 2010 Continuing Aditya Ji, interest calculation of capital gains account scheme is as follows:-
(1) Interest at such rate as may be specified by the Reserve Bank of India, from time to time, shall be allowed for each calendar month on the lowest balance at the credit of a depositor under account-A, between the close of the 10th day and the end of the month and shall be credited to the account at the end of each half-year.

(2) Interest at such rate, as may be specified by the Reserve Bank of India, from time to time, shall be allowed in respect of deposit in account-B. In case of cumulative deposit in account-B, the amount of interest accrued will be deemed to have been reinvested and in case of non-cumulative deposit in account-B, the amount of interest will become due and payable at quarterly intervals

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