28
Mar
IndusInd Bank on Thursday announced the launch of its Capital Gains Account Scheme (CGAS), aimed at helping customers park long-term capital gains and claim tax exemptions under the provisions of the Income Tax Act, 1961. The scheme follows authorisation from the Central Board of Direct Taxes, allowing the bank to accept deposits under the Capital Gains Account Scheme, 1988. It enables customers to securely hold unutilised gains from the sale of assets such as residential properties, agricultural land, urban land, farmhouses and SEZ-linked land, until reinvestment within prescribed timelines. IndusInd Bank will offer two account variants under the scheme. Type…
