ICICI Bank Offers Tax-Saving Capital Gains Plan

ICICI Bank is now offering the Capital Gains Account Scheme (CGAS), a facility that allows customers to deposit un-invested long-term capital gains or sale proceeds from specified capital assets. The deposits can earn interest while remaining eligible for tax exemptions under the Income Tax Act.

The bank’s launch follows government approval for ICICI Bank as an authorised institution to handle CGAS deposits.

Several other banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank and others, are also authorised to provide similar CGAS services at their non-rural branches.

Starting January 1, 2026, the scheme is available for resident individuals and Hindu Undivided Families (HUFs), with plans to extend access to non-individuals and non-resident Indians (NRIs) shortly.

The scheme targets taxpayers who are unable to reinvest long-term capital gains before filing their Income Tax Return (ITR). Customers can open CGAS accounts at

ICICI Bank branches, excluding rural locations, in line with CGAS regulations.

The scheme offers two types of accounts:

• Type A (Savings Account): Provides flexible withdrawals for approved reinvestment purposes.


• Type B (Term Deposit Account): Available in cumulative or non-cumulative formats for fixed-tenure deposits.

Deposits under CGAS can be temporarily parked for up to three years, giving taxpayers time to plan reinvestments in property, agricultural land, or new capital assets in industrial undertakings within non-urban areas or special economic zones. Interest is earned at rates comparable to regular savings accounts or fixed deposits.

Withdrawals require proof of fund usage as per CGAS rules.

ICICI Bank, a leading private sector bank in India, reported total assets of ₹21,36,271 crore as of September 30, 2025.