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Withdrawal of interest on capital gains account


Som Somasundaram   19 August 2019

Som Somasundaram

 1 points

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Bank interest on capital gains account scheme ( savings account) accumulated over 2 years but duly submitted for tax in income tax returns - is it subject to same withdrawal rules as the principal deposit? Can we insist that the bank credits such interest to a "free", "normal" savings account instead of accumulating it in the capital gain deposit account itself?

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Aditi Kaur (Practising CA)    1 September 2020

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Kapadia Pravin   19 August 2019

Kapadia Pravin

 924 likes  14328 points

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Yes surely interest on capital gain account scheme is free and can be credited to your normal SB account.


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