Income Tax Breaking: FM approves 19 More Banks for giving Benefit of Capital Gains Account Scheme:

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.

Also Read

Income Tax Officials Raid Pista House, Shadab and Mehfil in Tax Evasion Probe

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:

• 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.

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.