Business EconomyPosted at: Nov 4 2026 11:33PM


HDFC Bank authorised to offer deposits under Capital Gains Accounts Scheme

Hyderabad, Nov 4 (UNI) HDFC Bank has received approval from the Government of India to offer deposits under the Capital Gains Accounts Scheme (CGAS), 1988, enabling taxpayers to earn interest while retaining tax exemption benefits on unutilised capital gains, the bank announced on Wednesday.
Under the scheme, taxpayers who are unable to reinvest their capital gains before the income-tax return filing deadline can park the unutilised amount in savings accounts or fixed deposits for up to three years, subject to applicable provisions of the Income-Tax Act.
The facility will be available to resident Indians across the bank's urban and semi-urban branches, excluding rural branches,, the Bank said in a release.
The bank said the accounts would have zero-balance requirements and no transaction charges.
Deposits can be made through NEFT, RTGS, IMPS, UPI and fund transfers, both online and at branches. Interest on savings accounts and fixed deposits will be paid quarterly.
Customers will also have view-only access to their accounts through net banking and mobile banking facilities, besides passbooks and deposit advice for tracking their investments.
Sunali Rohra, Head of Government and Institutional Liabilities, New Economy Group and Alternate Banking Channels and Partnership at HDFC Bank, said the facility would enable customers to earn interest while availing tax exemptions on their unutilised capital gains.
The scheme covers capital gains arising from the transfer of residential house property, agricultural land and other capital assets, besides certain industrial assets transferred through compulsory acquisition or relocated from urban areas to non-urban areas or Special Economic Zones (SEZs).
The bank said the initiative would enable taxpayers to securely park unutilised capital gains while planning their eligible reinvestments.
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