Capital gain account payments mode
This query is : Resolved
15 March 2022
Namaste sir's
1) I sold one vacant site in Bangalore for 24 lakhs and deposited in capital gain account at canara bank
2) Now I'm in a process to buy 13 years old flat for Rs 40 lacs in Bangalore
3) home loan I'm taking 20 lakhs that gets credited to seller after registration
4) From capita gain account 20 lakhs DD will be given to seller
Whereas the balance 4 lakhs can i withdraw in cash part by part for incidental expenses like
Minor renovation works
Wall painting and doors polishing
Electrical and plumbing repair works and replacements
Please advise
1) I sold one vacant site in Bangalore for 24 lakhs and deposited in capital gain account at canara bank
2) Now I'm in a process to buy 13 years old flat for Rs 40 lacs in Bangalore
3) home loan I'm taking 20 lakhs that gets credited to seller after registration
4) From capita gain account 20 lakhs DD will be given to seller
Whereas the balance 4 lakhs can i withdraw in cash part by part for incidental expenses like
Minor renovation works
Wall painting and doors polishing
Electrical and plumbing repair works and replacements
Please advise
15 March 2022
Yes you can withdraw the remaining 4 Lakhs in parts.
Any amount withdrawn from the CGAS is required to be utilised for specified investment within 60 days of withdrawal and any unutilised amount should be desposited immediately.
Any amount withdrawn from the CGAS is required to be utilised for specified investment within 60 days of withdrawal and any unutilised amount should be desposited immediately.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
