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Withdrawl from clong term capital gain account

772 views 2 replies

Waseem Khan

Proprietor

29 Points Posted on 07 September 2012

Dear Sir,

I have sold one of my property after 6 years of taking possession. For the purpose of saving Tax on long term capital gains I have purchased a plot and rest of the amount deposited in Nationalised Bank ( Oriental Bank of commerce). I want to pay the amount for the Registration of property.Further needs to pay instalments against the same property.

Please suggest what is the procedure for the withdrawl of cash for the purpose of registration of the abovesaid property. ( Please note that the Bank does not issue cheque book in case of Long Term Capital gains Account). Unfortunately the bank staff is not clear about the procedure of withdrawl of cash amount.

Please help me and let me know the procedure for the same.

Replies (2)

sriraghavan

nothing

38 Points Posted on 07 September 2012

In order to say you pls clarify the items u mentioned.

1) What is the property sold by you ?

2) Registration expense for which property? for trasfered or for the new one?

Waseem Khan

Proprietor

29 Points Posted on 09 September 2012

Dear Sir,

The Type of Property I have sold is Independent floor . The money required is for New property ( Plot which has to be constructed within 3 yrs from the date of Selling my property)

Pls suggest how to withdraw money for the registration of property ( Cash has to be withdrawn since we have to buy Stamp paers in cash)