8/1/2017 Capital Gain Tax Saving Scheme

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You are here Retail Retail-Deposit Capital Gain Tax Saving Scheme

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With the implementation of

Goods and Services Tax (GST),
Capital Gain Tax Saving Scheme the existing service tax rate of
15% has been replaced by GST
rate of 18% from July 1, 2017
CAPITAL GAIN ACCOUNTS SCHEME 1988
Capital Gain Accounts Scheme 1988 is applicable to eligible taxpayers who wish to claim exemption u/s 54
for capital gain .

1 Branches Authorized Non Rural Branches (i.e. All Semi Urban/Urban/Metro

Branches

2 Types of Accounts Account A (Savings Bank) Account B (Term Deposit

cumulative/ non-cumulative) (Savings Plus Scheme not
permitted)

3 Account Opening Form( KYC Form A (in duplicate) + Proof of Address + Copy of
compliance) PAN Card + Photograph + unstamped HUF Letter in
case of account is for HUF (non-trading)

4 Rate of Interest Account A Applicable to SB Accounts Account B As

per Banks TDR Rates.

5 Withdrawal## Amount can be withdrawn from deposit A (Savings

Bank Account) by furnishing an application in form C
alongwith Pass Book.( No cheque book will be issued.)

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## Premature withdrawal from Deposit B (TDR) is permitted by converting account from B to

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8/1/2017 Capital Gain Tax Saving Scheme
A . Form B will be used for conversion of Account B to A.

6 Further withdrawal For subsequent withdrawal form D (in duplicate) by

giving the details showing the manner/ purpose for which
the previous withdrawal has been utilized Banks are not
obliged to allow further withdrawal if above referred
particulars are not furnished.

7 Mode of payment Any withdrawal over Rs.25,000/- should be affected by

Bank, only by crossed DD.

8 Utilization of Amount withdrawn
Amount drawn from Account A has to be utilized within
60 days from the date of such withdrawal for the purpose
mentioned in the relevant sections. Unutilized amount
should be re-deposited in Account A immediately. Non-
compliance of this rule will render the depositor to lose
exemptions under relevant section.

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