The Ministry of Finance has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025, introducing changes to the Capital Gains Account Scheme (CGAS), 1988. The amendments expand the list of authorised banks, enable additional electronic processes, and clarify operational rules.

The changes came into effect on November 19.

CGAS allows taxpayers to deposit unutilised long-term capital gains and claim tax exemptions within prescribed timelines, particularly under Sections 54 and related provisions.

The mechanism is widely used by property sellers who require additional time to reinvest their gains.

Nineteen private sector banks added

The amendment broadens the definition of a “Deposit Office” to include 19 private sector and small finance banks, in addition to public sector b

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