Income Tax
HDFC Bank Gains Authorization to Accept Capital Gains Account Scheme Deposits
Originally reported by ET Industry as: HDFC Bank to offer deposits under Capital Gains Accounts Scheme
4 Nov 2026, 8:05 pm IST · Xecute.finance News Desk
The crisp read
HDFC Bank has obtained government approval to provide deposits under the Capital Gains Accounts Scheme, 1988. This arrangement permits taxpayers to park untaxed capital gains in savings accounts or fixed deposits for up to three years while preserving tax exemption eligibility and earning interest.
Deep dive - the full story
Under Indian tax statutes, the scheme provides a secure holding mechanism for capital gains pending reinvestment in specified assets within statutory timelines. In practice, this authorization broadens banking choices for taxpayers seeking to fulfill compliance requirements under tax provisions compared to relying on restricted designated banking institutions.
Tax practitioners and chartered accountants should advise clients on utilizing authorized bank branches for CGAS deposits to secure statutory exemptions and monitor reinvestment deadlines. Track official gazette notifications and banking circulars regarding authorized depository institutions.
Bottom line: proper utilization of CGAS deposits ensures tax compliance while preserving liquidity and earning returns on idle capital gains.
Source: economictimes.indiatimes.com
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