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Can I use my retirement savings to build a house? (Kumaraswamy, Central Govt pensioner)

Vivek

Vivek Lala  | Answer  |Ask -

Tax, MF Expert - Answered on Aug 25, 2024

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more
PK Question by PK on Aug 22, 2024Hindi
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sir, I,am ,Kumaraswamy a central Govt pensioner.I am filing my ITR regularly.Now I want to construct a house by withdrawing 30 lakhs from my retirement savings. How to justify and show this amount in my nest income tax return.

Ans: You can withdraw any amount as its tax paid money , so nothing to be worried of
You can do as you please with your savings or investments
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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