Regarding Withdrawal of unused amount in Capital Gain account scheme
This query is : Resolved
Quick Summary
Jaswinder singh
(Querist)
13 August 2025
Respected Colleagues,
One of my client wants to withdraw the left amount unused in CGAS, So wanted to know the procedure and how to file Form G and "Is Form G addressed to Income tax dept or to Bank''
Please guide and provide suitable attachments or format.....
Regards
One of my client wants to withdraw the left amount unused in CGAS, So wanted to know the procedure and how to file Form G and "Is Form G addressed to Income tax dept or to Bank''
Please guide and provide suitable attachments or format.....
Regards
Dhirajlal Rambhia
(Expert)
13 August 2025
Download Form G from an authorized source, such as the Income Tax Department website, or procure it from your deposit office.
Fill in all details required in Form G, including your account information (Account-A number/passbook, or Account-B number/deposit receipt), personal details, and reasons for closure.
Seek Approval from Assessing Officer (AO)
You must obtain the approval of your jurisdictional Income Tax Assessing Officer:
Submit the completed Form G to the AO and request a written approval or an authority letter for closure.
The AO may verify whether all prescribed conditions (including payment of capital gains tax, if applicable) have been met.
Present the following at your deposit branch:
Duly filled and AO-approved Form G
Your passbook (for Account-A) or deposit receipt (for Account-B)
The authority letter/consent from your AO.
Fill in all details required in Form G, including your account information (Account-A number/passbook, or Account-B number/deposit receipt), personal details, and reasons for closure.
Seek Approval from Assessing Officer (AO)
You must obtain the approval of your jurisdictional Income Tax Assessing Officer:
Submit the completed Form G to the AO and request a written approval or an authority letter for closure.
The AO may verify whether all prescribed conditions (including payment of capital gains tax, if applicable) have been met.
Present the following at your deposit branch:
Duly filled and AO-approved Form G
Your passbook (for Account-A) or deposit receipt (for Account-B)
The authority letter/consent from your AO.
Jaswinder singh
(Querist)
13 August 2025
OK Sir Thanks a lot.....
Dhirajlal Rambhia
(Expert)
13 August 2025
You are welcome..
Dhirajlal Rambhia
(Expert)
23 September 2025
Good luck....
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