The CBDT issued Notification 162/2025 dated November 19, 2025, authorising all branches—excluding rural branches—of several banks to receive deposits and maintain accounts under the Capital Gains Accounts Scheme (CGAS), 1988.
This notification is issued in pursuance of clause (c) of paragraph 2 of the Scheme, and in continuation of earlier notifications dated 22 June 1988 and 30 November 2012.
Banks Authorised Under the Scheme
The following banks have been authorised to operate CGAS accounts across all their non-rural branches:
- HDFC Bank Ltd.
- ICICI Bank Ltd.
- Axis Bank Ltd.
- City Union Bank Ltd.
- DCB Bank Ltd.
- Federal Bank Ltd.
- IDFC FIRST Bank Ltd.
- IndusInd Bank Ltd.
- Jammu and Kashmir Bank Ltd.
- Karnataka Bank Ltd.
- Karur Vysya Bank Ltd.
- Kotak Mahindra Bank Ltd.
- RBL Bank Ltd.
- South Indian Bank Ltd.
- Yes Bank Ltd.
- Dhanlaxmi Bank Ltd.
- Bandhan Bank Ltd.
- CSB Bank Ltd.
- Tamilnad Mercantile Bank Ltd.
Clarification on Rural Branches
For the purpose of this notification, a rural branch is defined as one located in a centre where the population is less than 10,000, as per the 2011 Census. Such rural branches are not included in the current authorisation.
Background
The Capital Gains Accounts Scheme, 1988 facilitates taxpayers in availing exempted capital gains by depositing the required amount in designated accounts until it is utilised for specified purposes under the Income-tax Act. The addition of these banks is expected to enhance taxpayer convenience and expand access to CGAS services nationwide.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/11/CBDT-NN-162-Notification-of-Banks-to-maintain-accounts-under-CGAS-1988.pdf
