About withdrawl of FD's

This query is : Resolved 

12 June 2024 Respected sir/ madam
We had send our savings to my mother and deposited Rs.70Lakhs in FD in my mother A/c for which already tax paid on that amount....now we want buy a property, for that we have to withdraw my money from the bank...now my doubt is howmuch amount we can withdraw in cash...is there any tax is attracted to withdraw the amount??
Without attracting tax what I can do??
Please answer to me

12 June 2024 You can break the FD, bank will deposit the redemption amount to your savings account, from where you can issue cheque. There won't be any restriction for such payments by banking mode.

31 August 2024 Good luck.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries