Deposit under capital gain scheme
This query is : Resolved
yogesh batra
(Querist)
26 January 2015
whether can withdraw from deposit under capital gain scheme before the expiry date ( three year from the transfer of original asset) and not use for specified purpose. I want to pay tax on withdrawal money
CA PARAS BAFNA
(Expert)
26 January 2015
Yes you can withdraw the amount from capital gains account by making an application to the Bank. It is going to be taxable.
CA R SEETHARAMAN
(Expert)
26 January 2015
You can withdraw the amount and pay tax in the year of withdrawal.
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