Quick Summary
In a significant move aimed at improving taxpayer convenience and widening access to Capital Gains Account Scheme (CGAS) services, the Central Board of Direct Taxes (CBDT) has authorised all non-rural branches of 19 major banks to receive deposits and maintain accounts under the Capital Gains Account Scheme, 1988.The notification was published in the Gazette of India on November 19, 2025. The updated authorisation expands the network of banks where taxpayers can open and operate CGAS accounts-a
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FAQ :
The Capital Gains Account Scheme (CGAS), 1988, is a mechanism that allows individuals to temporarily park capital gains to claim tax exemptions under specific sections of the Income Tax Act, such as 54, 54B, 54D, 54F, 54G, and 54GB.
Nineteen major banks, including HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and Yes Bank, have had their non-rural branches authorised to operate CGAS accounts.
No, only the non-rural branches of the 19 authorised banks can operate CGAS accounts. Rural branches, defined as those in centres with less than 10,000 population as per the 2011 Census, are not included.
The expansion significantly increases the availability of CGAS services nationwide, making it easier for taxpayers, particularly property sellers, to comply with tax regulations and claim exemptions by reinvesting their capital gains.
The notification regarding the expansion of the Capital Gains Account Scheme was published in the Gazette of India on November 19, 2025.
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