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 A, a savings account, provides flexibility with deposits and withdrawals and no minimum balance requirement. Type B, a term deposit account, allows fixed tenure deposits starting at ₹10,000, offering higher returns aligned with reinvestment timelines. The scheme is available at authorised non-rural branches for resident individuals, Hindu Undivided Families (HUFs), non-individual entities and NRIs.
With over 31 years of operations, IndusInd Bank currently serves around 42 million customers through more than 3,100 branches and over 3,000 ATMs across India, supported by its ‘Digital 2.0’ strategy and platforms like ‘INDIE’.
In Guwahati, the scheme is expected to benefit property sellers and investors in Assam’s growing urban centres, where real estate transactions are rising. Financial advisors say CGAS could encourage more structured reinvestment planning, especially among middle-class investors looking to optimise tax liabilities while reinvesting in housing and land assets.