According to a Finance Ministry notice, HDFC Bank, ICICI Bank, Axis Bank Ltd, City Union Bank Ltd, DCB Bank Ltd, Federal Bank Ltd, IDFC FIRST Bank, IndusInd Bank, Jammu and Kashmir Bank, Karnataka Bank Ltd, Karur Vysya Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank, Yes Bank Ltd, Dhanlaxmi Bank, Bandhan Bank, CSB Bank and, Tamilnad Mercantile Bank have actually been authorised to accept deposits under Capital Gains Account Scheme|Picture Credit: AJAY VERMA
The Finance Ministry has actually allowed 19 economic sector banks consisting of ICICI Bank and HDFC Bank to accept Capital Gains Account Scheme. Far, such accounts might just be opened with public sector banks and IDBI Bank, other than those in rural location.
According to a Finance Ministry alert, HDFC Bank, ICICI Bank, Axis Bank Ltd, City Union Bank Ltd, DCB Bank Ltd, Federal Bank Ltd, IDFC FIRST Bank, IndusInd Bank, Jammu and Kashmir Bank, Karnataka Bank Ltd, Karur Vysya Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank, Yes Bank Ltd, Dhanlaxmi Bank, Bandhan Bank, CSB Bank and, Tamilnad Mercantile Bank have actually been authorised to accept deposits under Capital Gains Account Scheme. Constraint on rural branches are to continue here too. A rural branch implies a branch which is positioned and is operating at a centre where the population, according to 2011 census, is less than 10,000.
Another alert included area 54GA under the Capital Gains Account Scheme. This implies capital gains occurring from transfer of possessions on moving of commercial endeavor from the city location to any SEZ can likewise be transferred.
Area 54 supplies exemption from paying LTCG (Long Term Capital Gains) tax on the sale of plot or an old home if one gets a brand-new home or defined properties either one year before or within 2 years of offering your old one. If one means to develop a brand-new home, she/he should do so within 3 years of offering within old one. Now, throughout the intermediary duration (time in between selling and re investing), one can park the cash with unique deposit plan.
There will be 2 kinds of bank account, particularly Deposit account-A; and Deposit account-B. The deposit made under account-A will remain in the kind of cost savings deposit and withdrawals under this account can be made from time to time by the depositor. Rates of interest as suitable on Saving Accounts will be offered on such an account.
The deposit made under account-B will remain in the kind of term deposit with an alternative to the depositor to keep the deposit as cumulative or non-cumulative deposit. Withdrawals under this account can be made just after the expiration of the duration for which the deposit under this account has actually been made and accepted. Such deposits might be made in one swelling amount or in instalments at any time on or before the due date of providing the return of earnings under sub-section (1) of area 139 of the Income Tax Act as applies when it comes to the depositor.
What is Capital Gain Term Deposit account?
The Capital Gain Term Deposit account can be opened with a minimum deposit of 1,000 and afterwards in multiples of 1 without any ceiling of optimum quantity. Optimum tenor willnot surpass 2 to 3 years from date of transfer of initial possession. Minimum Tenor for maturity choice would be 7 days and for earnings alternative would be 6 months. After tenor FD will be car closed.
In case of early withdrawal, 1 percent chastening interest will be charged No loan center versus this deposit is offered. The term deposit can neither be accepted as margin cash for non-fund based nor as security to any kind of fund-based centers.
Released on November 20, 2025
