ICICI Bank has announced the launch of the Capital Gains Account Scheme (CGAS), enabling customers to deposit un-invested long-term capital gains or sale proceeds from specified capital assets and claim tax exemptions while earning interest. The launch follows the Government’s approval of ICICI Bank as an authorised institution to handle CGAS deposits. The scheme is effective from January 1, 2026, and is available to resident individuals and Hindu Undivided Families (HUFs), with availability for non-individuals and NRIs to be introduced shortly.
The scheme benefits taxpayers who are unable to reinvest capital gains before the Income Tax Return filing deadline. Customers can open CGAS accounts at ICICI Bank branches, excluding rural locations as per the rules. The bank is offering two formats: Type A (savings account) with flexible withdrawals for approved reinvestment purposes, and Type B (term deposit) in cumulative and non-cumulative options for fixed tenure deposits. Depositors can temporarily park funds for up to three years while retaining exemption eligibility, with interest similar to savings or fixed deposits.
A spokesperson said the scheme reinforces the bank’s commitment to offering financial solutions that support evolving customer needs.
Financial planners in Guwahati expect strong uptake from property sellers and investors dealing in real estate and land transactions. With rising capital appreciation and expanding urban growth in the Guwahati market, the scheme is seen as a useful option for taxpayers seeking flexibility in reinvestment while safeguarding tax exemptions.
