ICICI Bank has launched the Capital Gains Account Scheme (CGAS), which allows customers to deposit uninvested long-term capital gains or sale proceeds and claim tax exemptions, while planning reinvestments for up to three years. | Photo credit: FRANCIS MASCARENHAS
The launch follows the government’s approval of ICICI Bank as an authorized institution for processing CGAS deposits. The Bank said customers should consult their tax advisors to claim tax exemptions and for advice on specified capital assets under CGAS.
Eligibility Criteria
“From January 1, 2026, this scheme will be available for resident individuals and Hindu Undivided Families (HUFs). It will soon be available for non-individuals and NRIs.
“It will benefit taxpayers who are unable to reinvest long-term capital gains before the deadline for filing Income Tax Returns (ITR). Customers can open a capital gains account by visiting their nearest ICICI Bank branch (except rural locations, as per CGAS rules),” the private sector bank said in a statement.
Deposit Options Offered
There are two deposit options under CGAS – Type A (savings account): Flexible withdrawals linked to approved reinvestment purposes; and Type B (Term Deposit Account): cumulative or non-cumulative formats for fixed-term deposits.
Tax benefits
“Customers can deposit uninvested capital gains or sale proceeds before the due date of the ITR to claim long-term capital gains exemption under relevant sections of income tax. Funds can be parked for up to three years to plan reinvestment without losing the right to exemption. The interest earned is comparable to regular savings accounts or fixed deposits,” the Bank said.
Furthermore, the proceeds can be invested in real estate, agricultural land or new capital equipment of an industrial enterprise in non-urban areas/special economic zones, depending on the CGAS chosen; Withdrawals of proceeds require proof of use of the fund.
Published on January 1, 2026
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