Withdrwal of capita gain from cg scheme
This query is : Resolved
22 November 2011
Sir
I had deposited the long term capital gain from sale of residential flat into SBI Capital Gain Scheme Account.
Now i want to withdraw the money from that account.
Kindly tell me the procedure for withdrawl.
Thanks
Regards
Tribhuwan
I had deposited the long term capital gain from sale of residential flat into SBI Capital Gain Scheme Account.
Now i want to withdraw the money from that account.
Kindly tell me the procedure for withdrawl.
Thanks
Regards
Tribhuwan
23 November 2011
Money can be withdrawn from the capital gain scheme only for the purpose of construction of house property.
Withdrawl for any other reason is not allowed.
Withdrawl for any other reason is not allowed.
23 November 2011
i wanna know the procedure to withdraw the money from SBI
03 August 2025
To withdraw money from the SBI Capital Gains Account Scheme, here’s the general procedure you need to follow:
Withdrawal Procedure:
Visit the SBI branch where you have opened the Capital Gains Account.
Fill up the withdrawal application form for Capital Gains Account Scheme (form available at the branch).
Submit supporting documents like:
Proof of identity (PAN card, Aadhaar, etc.)
Proof of purpose of withdrawal (e.g., agreement to purchase or construct a house property, if applicable)
Passbook or account details of the Capital Gains Account Scheme.
Specify the amount you want to withdraw and the purpose of withdrawal.
If you are withdrawing for construction or purchase of house property, provide relevant documents supporting this.
The branch will process your withdrawal request and release the funds as per the scheme rules.
Important Notes:
Withdrawal is allowed only for purchase or construction of residential property before the specified time period (usually 3 years).
If you withdraw for any other reason, the withdrawn amount will be treated as capital gain and taxed accordingly.
Before withdrawing, consult the bank officials for exact documentation and formalities as they may vary slightly from branch to branch.
Withdrawal Procedure:
Visit the SBI branch where you have opened the Capital Gains Account.
Fill up the withdrawal application form for Capital Gains Account Scheme (form available at the branch).
Submit supporting documents like:
Proof of identity (PAN card, Aadhaar, etc.)
Proof of purpose of withdrawal (e.g., agreement to purchase or construct a house property, if applicable)
Passbook or account details of the Capital Gains Account Scheme.
Specify the amount you want to withdraw and the purpose of withdrawal.
If you are withdrawing for construction or purchase of house property, provide relevant documents supporting this.
The branch will process your withdrawal request and release the funds as per the scheme rules.
Important Notes:
Withdrawal is allowed only for purchase or construction of residential property before the specified time period (usually 3 years).
If you withdraw for any other reason, the withdrawn amount will be treated as capital gain and taxed accordingly.
Before withdrawing, consult the bank officials for exact documentation and formalities as they may vary slightly from branch to branch.
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