What is the withdrawal of interest amount from capital gain account type B?

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V. H. Patel

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August 28, 2022

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Manjot · Answer 1 · 2022-08-30T17:43:49+00:00

0 August 30, 2022

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Hi buddy, I want you to know that the withdrawal terms differ depending on the type of deposit you have made. Type A account doesn’t have any restrictions on withdrawal. However, for a type B account, you are required to transfer the money to a type A account first and then withdraw. You may have to pay a penalty for premature withdrawals. Moreover, you are required to reinvest the withdrawn money in a specific investment within sixty days of the withdrawal or redeposit in a type A account immediately. If you are withdrawing for the first time, then you are required to submit Form C. For all subsequent withdrawals, you will have to submit Form D with the details of how the previous money was utilised. Invest in Affordable and Beautiful Properties Easily through NoBroker Pay Your Electricity & Water Bills through NoBroker and Get Assured Rewards! Read more: What is Long Term Capital Gains Holding Period? What is the surcharge on Capital Gains tax? What are the Rules Regarding Exemption of Capital Gains?