CBDT notifies revised Capital Gains Account Scheme with Major Changes

The Central Board of Direct Taxes (CBDT) under the Ministry of Finance recently shared a November 19, 2025 regarding an amendment to the Capital Gains Account Scheme 1988.

The Capital Gains Account Scheme allows taxpayers to temporarily invest capital gains in a designated bank account to claim Income tax exemption u/s 54, 54B, 54D, 54F etc. on capital gain while they search for purchase or construct a new property.

The notification shall come into force on the date of its publication in the Official Gazette which was 19th Novemeber 2025.

New digital payment options permitted under CGAS 2025

The New digital payment options permitted under CGAS 2025 are as follows:

(a) credit card;

(b) debit card;

(c) net banking;

(d) IMPS (Immediate Payment Service);

(e) UPI (Unified Payment Interface);

(f) RTGS (Real Time Gross Settlement);

(g) NEFT (National Electronic Funds Transfer), and

(h) BHIM (Bharat Interface for Money) Aadhaar Pay

Untill now the payment of amount of deposit could be made by the depositor either in cash or by crossed cheque or by draft along with the application. Also the option of Cash is now no more available.

Change in Documents:

• Various forms used for opening, operating and withdrawing funds like Form G and Form H have been updated
• Manual filing will be replace by digital filing
• Digital signature or verification via (EVC) electronic verification code has been introduced

New Banks notified to operate the Scheme:

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 19 More Banks have been notified for Giving Benefit of Capital Gains Account Scheme.

Below is the list of these 21 banks Giving Benefit of Capital Gains Account Scheme:

• SBI
• IDBI Bank Ltd
• 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; and
• Tamilnad Mercantile Bank Ltd.

Closure of Capital Gains Account Scheme

The option of closure of account to be exercised shall be furnished electronically either under digital signature or electronic verification code on and from the 1st April, 2027.

The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), or any person authorised by the Principal Director General of Income-tax (Systems) or
Director General of Income-tax (Systems), as the case may be, shall:

a) specify the procedure for filing of Form G and Form H;

b) forward Form G or Form H, as applicable, to the Assessing Officer having jurisdiction over the applicant, and upon approval by the Assessing Officer, to the applicant;

c) specify the data structure, standards and manner of generation of electronic verification code for verification of the person furnishing the said Form; and

d) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the Form so furnished.

For complete information, refer to the official notification-