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

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

asked Mar 17 '12 at 18:28 by Barbie 1111

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.

answered Mar 21 '12 at 19:19 by Pankaj Batra 5.2k320


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Asked: Mar 17 '12 at 18:28

Seen: 2,510 times

Last updated: Mar 21 '12 at 19:19