Income tax
The Ministry of Finance (Department of Revenue), vide Notification dated November 19, 2025, has introduced the Capital Gains Accounts (Second Amendment) Scheme, 2025, further refining the Capital Gains Account Scheme, 1988.
Issued under sections 54, 54B, 54D, 54F, 54G, 54GA and 54GB of the Income-tax Act, the amendment strengthens the Scheme by formally adding section 54GA and shifting the framework into a fully digital era. It permits deposits through modern electronic modes cards, net banking, IMPS, UPI, RTGS, NEFT and BHIM Aadhaar Pay with the deposit date reckoned as the date of receipt by the Deposit Office. Physical passbooks give way to electronic statements, and withdrawals may also be executed electronically.
From April 1, 2027, closure of CGAS accounts must be filed online, authenticated via digital signature or EVC, with the Directorate of Income-tax (Systems) steering the technology, security and data architecture. The definition of “Deposit Office” now extends to authorised branches of SBI, its subsidiaries, corresponding new banks and other notified banking companies.
[Notification 161/2025 dated November 19, 2025]
