ICICI Bank has announced the launch of the Capital Gains Account Scheme (CGAS), allowing customers to deposit un-invested long-term capital gains or sale proceeds from specified capital assets to claim tax exemptions while earning interest. The scheme is available from January 1, 2026, following the Government’s approval of ICICI Bank as an authorised institution to manage CGAS deposits.
The facility is currently open to resident individuals and Hindu Undivided Families (HUFs), with availability for non-individuals and NRIs to follow. It is designed for taxpayers who are unable to reinvest capital gains before the Income Tax Return filing deadline. Accounts can be opened at ICICI Bank branches, except those in rural locations, as per CGAS rules. Customers can choose between Type A savings accounts with flexible withdrawals or Type B term deposits with fixed tenure options.
A bank spokesperson said the scheme enables customers to “park un-invested capital gains, earn interest, and claim tax exemptions, while planning reinvestment up to three years,” adding that the initiative aligns with the bank’s focus on evolving customer needs.
In Guwahati, tax advisors and financial planners expect growing interest in the scheme among property sellers and investors, particularly those dealing in real estate and land transactions. With increasing urban development and capital appreciation in the city, the CGAS facility is likely to be seen as a practical option to safeguard tax benefits while allowing time for reinvestment planning. Financial consultants in the Guwahati market say the move could encourage more disciplined capital deployment among local investors.