Mode of Payment from Capital Gains Account Scheme for purchase of residential property.

Barbie 1
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The published information mentions that the mode of making payment from Savings Account type A is only in the form of a Bank draft or a pay order in the name of the seller of the property. This entails a big expenditure on bank commission. Therefore, can payment be transferred to the seller's bank account through RTGS?

S. Tandon

withdrawal-amount account-type-a bank-draft pay-order cgas capital-gain-account
1 Answers

As per capital gain scheme rules, Any withdrawal over Rs.25,000/- should be affected by Bank, only by crossed Demand Draft.

You may ask your bank if they are ready to pay using some other method.

Pankaj Batra5212
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