ICICI Bank today announced the introduction of the Capital Gains Account Scheme, enabling taxpayers to deposit long-term capital gains or proceeds from the sale of specified capital assets and claim tax exemptions under applicable provisions of the Income Tax Act.
The bank said the launch follows its approval as an authorised CGAS institution by the Government of India. The scheme will be available from January 1, 2026, for resident individuals and HUFs, and will be extended to other customer categories in due course.
Customers can choose between Type A savings accounts with flexible withdrawals and Type B term deposit accounts in cumulative or non-cumulative formats. Withdrawals are permitted only for approved reinvestment purposes and require proof of usage.
An ICICI Bank spokesperson said, “We thank the Government of India for recognising ICICI Bank as an authorised institution for CGAS deposits. With this scheme, customers can park un-invested long term capital gains, earn interest, and claim tax exemptions, while planning reinvestment up to three years. This offering reinforces our commitment to deliver financial solutions that meet evolving customer needs.”
