Mumbai : IndusInd
Bank today announced the launch of Capital Gains Account Scheme (CGAS), under
which customers can park long‑term capital gains until reinvestment, and avail
tax exemptions in accordance with the provisions of Income‑tax Act, 1961. The
scheme provides a secure and compliant facility for holding unutilised capital
gains, allowing customers to make well‑informed reinvestment decisions, within
prescribed statutory timelines.
The
launch follows the authorisation granted by the Central Board of Direct Taxes
(CBDT) permitting IndusInd Bank to accept deposits under the Capital Gains
Account Scheme, 1988.
Under
the scheme, the Bank will accept deposits of unutilised proceeds arising from
the sale of eligible capital assets, including residential properties, flats,
farmhouses, agricultural land, urban land, and land in Special Economic Zones
(SEZs).
IndusInd
Bank offers two account options under CGAS: Type A – Savings Account,
enabling flexible deposits and withdrawals with no minimum balance and
applicable savings interest, and Type B – Term Deposit Account, offering
fixed‑tenure deposits with minimum deposit of ₹10,000 and higher returns, aligned
with reinvestment timelines. The scheme is available at authorised non‑rural
IndusInd Bank branches for eligible customers, including resident individuals,
Hindu Undivided Families (HUFs), non‑individual entities and Non‑Resident
Indians (NRIs).
For details, visit: https://www.indusind.bank.in/in/en/personal/accounts/saving-account/capital-gain-account-scheme.html