Regarding capital gain deposit a/c
This query is : Resolved
23 January 2014
Assessee had deposited Rs.20 lac in Cap. Gain Deposit A/c in 2012 and died on 15/07/2013 without any withdrawal from the account. And now his nominee want to close the Capital Gain Deposit A/c.
Please tell me the compliance procedure to be followed, of above mentioned problem?
Also tell me the tax burden to be borne by the nominee on such pre-mature withdrawls ?
Please tell me the compliance procedure to be followed, of above mentioned problem?
Also tell me the tax burden to be borne by the nominee on such pre-mature withdrawls ?
23 January 2014
U need to submit death certificate to the bank for withdrawal. With regards to tax liability please note that this pre-mature wont be taxed. The money in the CGAS acc shall become part of the deceased estate
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