CBDT Authorises 19 Banks for Capital Gains Account Scheme

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  • Last Updated on 21 November, 2025

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19 banks under CGAS

Notification No. 162/2025 dated 19/11/2025

1. Overview

The Central Board of Direct Taxes (CBDT) has issued an order authorising 19 additional banks to accept deposits and operate accounts under the Capital Gains Account Scheme, 1988 (CGAS).

This expansion significantly increases taxpayer accessibility to CGAS across the banking network, easing compliance for individuals seeking exemption from capital gains tax through timely deposit of unutilised proceeds.

2. List of Newly Authorised Banks

The following banks have been added to the list of authorised institutions under CGAS:

  1. HDFC Bank Ltd
  2. ICICI Bank Ltd
  3. Axis Bank Ltd
  4. City Union Bank Ltd
  5. DCB Bank Ltd
  6. Federal Bank Ltd
  7. IDFC FIRST Bank Ltd
  8. IndusInd Bank Ltd
  9. Jammu and Kashmir Bank Ltd
  10. Karnataka Bank Ltd
  11. Karur Vysya Bank Ltd
  12. Kotak Mahindra Bank Ltd
  13. RBL Bank Ltd
  14. South Indian Bank Ltd
  15. Yes Bank Ltd
  16. Dhanlaxmi Bank Ltd
  17. Bandhan Bank Ltd
  18. CSB Bank Ltd
  19. Tamilnad Mercantile Bank Ltd

3. Significance

With these additions:

  • Taxpayers now have broader banking options for opening and operating CGAS accounts,
  • The scheme becomes more accessible across regions, especially through private, regional, and small finance banks,
  • Compliance with capital gains exemption provisions under the Income-tax Act becomes simpler and more convenient.
Click Here To Read The Full Notification

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied