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Withdrawl from Capital Gain Account Schme

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Abdus Samad Ansari (Querist)
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10 October 2010 I have claimed the exemption u/s 54F by investing full amount realised from capital gain account in Capital gain Account Scheme, now i want to withdraw the amount from the same to purchase building/plot.
While Bank said that there is some notification/circular from Income come regarding process to withdraw and want written letter from Assessing officer to withdraw the amunt please provide me full detail abount the notification and process to withdraw the amount.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2010 CBDT Notification No.GSR 724(E) dated 22/06/1988 contains the salient features of capital gains accounts scheme,1988. As per the scheme for closure of the account, an application has to be made,with the approval of Assessing Officer,to the deposit office(bank) in form-G of the said scheme.

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