The Central Government authorises all branches of nineteen banks (except for rural branches) to receive deposits and maintain accounts under the Capital Gains Account Scheme, 1988.
Saloni Kumari | Nov 20, 2025 |
Income Tax Breaking: FM approves 19 More Banks for Giving Benefit of Capital Gains Account Scheme
The Central Board of Direct Taxes (CBDT) under the Ministry of Finance (Department of Revenue) has recently issued an official notification dated November 19, 2025, informing that the Central Government has given authority to all branches of nineteen banks (except for rural branches) to receive deposits and maintain accounts under the Capital Gains Account Scheme, 1988.
A “rural branch” of the bank means any branch that is located in an area where the population is less than 1000 people, as per the 2011 Census.
The central government has performed this action in pursuance of clause (e) of paragraph 2 of the Capital Gains Account Scheme, 1988, and in continuation of the earlier notifications dated June 22, 1988 and November 30, 2012. Below is the list of these nineteen banks:
Earlier only Statebank of India [Notification number G.S.R.725(E)] and IDBI Bank Ltd [Notification number G.S.R 859(E)] were eligible for this. Now 21 Indian banks are eligible to open Account under Capital Gains Account Scheme to save capital gain tax.
Refer to the official notification for complete information.
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