Operation of LTCG Bank A/C.

POSTED BY Bhupinder ON August 8, 2011 7:22 pm ONE COMMENT

I have sold my flat & gain from it will be LTCG . I will be buying under construction flat . Now I want to open LTCG  a/c with nationlised bank . I have contacted my bank & he is saying you can withdraw only once from this account & after that you need income tax dept approval for further withdrawl . Now as I will be paying in installments so operation of this account looks difficult . I feel bank has given me wrong information & need expert advise about operation of LTCG A/C .

One reply on this article “Operation of LTCG Bank A/C.”

  1. Abhishek says:

    Hi

    Any No. of times you can withdraw from bank for the purpose of LTCG notified scheme. you should use with in 2 year that amount for the specifed purpose of LTCG notififed capital gain a/c.

    Abhishek

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