What's CGAS and which bank is permitted to open such account?
1) How it works?
2) What is the interest paid?
3) Is loan possible to meet contingency?
TIA
What's CGAS and which bank is permitted to open such account?
1) How it works?
2) What is the interest paid?
3) Is loan possible to meet contingency?
TIA
| Feature | Details |
|---|---|
| Purpose | To park capital gains till reinvestment |
| Types | Type A (savings), Type B (FD) |
| Interest | Same as bank SA/FD; taxable |
| Loan facility | Not allowed |
| Withdrawals | Allowed only for approved construction/purchase |
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