HDFC Bank Capital Gains Account: Save Your Tax?

HDFC Bank can now offer Capital Gains Accounts Scheme (CGAS) accounts. If you've sold property or shares and can't reinvest immediately, parking gains here saves you from paying tax — but only if you act within the ITR deadline.

Here's what happened: HDFC Bank has received regulatory clearance to offer Capital Gains Accounts Scheme (CGAS) accounts, letting customers deposit capital gains before reinvestment.. CGAS accounts come in two types: Type A (savings account for flexible withdrawals) and Type B (fixed deposit for higher interest returns) — both shield gains from immediate taxation.. Gains must be deposited into the CGAS account before the ITR filing deadline of the relevant financial year; the maximum holding period is 3 years from the date of asset sale..

What you should do: Check whether you've sold property, land, or listed shares in FY2024-25 and calculate your capital gains before your ITR filing deadline to know if you need CGAS.. Visit your nearest HDFC Bank branch or call their wealth desk to open a CGAS account — carry your sale deed or transaction statement, PAN card, and Aadhaar for KYC.. Track your 3-year CGAS deadline carefully in your calendar — missing it means the full parked gain becomes taxable that year, wiping out the benefit you protected initially..

Pro tip: Type B (FD) CGAS accounts earn regular FD interest, which is taxable as income — but the capital gain itself stays exempt while you plan your reinvestment. It's not a free lunch, but it's a valuable delay.