ICICI Bank launches Capital Gains Account Scheme
ICICI Bank announced the launch of the Capital Gains Account Scheme (CGAS), enabling customers to deposit un-invested long term capital gains or sale proceeds from the sale of specified capital assets*. This facility allows them to avail tax exemptions* for up to three years while earning interest on deposited funds. The launch follows the Government’s approval of ICICI Bank as an authorised institution to handle CGAS deposits. Starting January 1, 2026, this scheme is available for Resident individuals and Hindu Undivided Families (HUFs). It will be available for non-individuals and NRIs shortly. It benefits taxpayers who are unable to reinvest long term capital gains before the Income Tax Return (ITR) filing deadline. Customers can open a Capital Gains Account by visiting their nearest ICICI Bank branch (except rural locations, as per CGAS rules). An ICICI Bank spokesperson said, “We thank the Government of India for recognising ICICI Bank as an authoris...