5 months ago
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ICICI Bank has announced the motorboat of the Capital Gains Account Scheme (CGAS) which volition alteration taxation payers to deposit un-invested agelong word superior gains oregon merchantability proceeds from the merchantability of specified superior assets.
This installation allows them to avail taxation exemptions for up to 3 years portion earning involvement connected deposited funds.
“The motorboat follows the Government’s support of ICICI Bank arsenic an authorised instauration to grip CGAS deposits,” the slope said.
Starting January 1, 2026, this strategy is disposable for Resident individuals and Hindu Undivided Families (HUFs). It volition beryllium disposable for non-individuals and NRIs shortly.
“It benefits taxpayers who are incapable to reinvest agelong word superior gains earlier the Income Tax Return (ITR) filing deadline. Customers tin unfastened a Capital Gains Account by visiting their nearest ICICI Bank subdivision (except agrarian locations, arsenic per CGAS rules),” the slope added.
An ICICI Bank spokesperson said, “ With this scheme, customers tin parkland un-invested agelong word superior gains, gain interest, and assertion taxation exemptions, portion readying reinvestment up to 3 years. This offering reinforces our committedness to present fiscal solutions that conscionable evolving lawsuit needs.”
