HDFC Bank Launches Capital Gains Account Scheme

KOCHI: HDFC Bank has received authorization from the Central Government to accept deposits under the Capital Gains Account Scheme (CGAS), 1988. This scheme enables taxpayer individuals to deposit uninvested capital gains from property or asset sales for up to three years to claim income tax exemptions under Section 54 while simultaneously earning attractive interest on their funds. Available across HDFC Bank’s urban and semi-urban branches, the CGAS facility can be maintained as a savings account or a fixed deposit. Key highlights of this offering include zero-balance account maintenance, quarterly interest payouts, and seamless digital tracking through NetBanking and MobileBanking platforms. The facility is currently open to all resident Indian individuals to help them efficiently manage their capital gains tax obligations.