Deposited under capital gain deposited scheme and it will be utilised as per Income tax rules
my qtn is whether we can withdraw interest on deposit and utilised for other expenses
Replies (2)
Quick Summary
If you've deposited funds under the Capital Gains Deposit Scheme according to Income Tax rules, you might be wondering about withdrawing the interest earned. The rules generally allow for the utilisation of these funds, including the interest, specifically for eligible house property purchases or construction. It's important to adhere to the Income Tax regulations for utilising these funds.