Karnataka Bank Launches Capital Gains Account Scheme

Karnataka Bank has launched the Capital Gains Account Scheme (CGAS) to provide customers with a compliant banking solution for depositing unutilized capital gains. This scheme allows taxpayers who have earned capital gains but cannot reinvest within the stipulated time to deposit the amount into a CGAS account to avail applicable tax benefits. The bank offers two types of accounts: Capital Gains Account-A (Savings Deposit Account) and Capital Gains Account-B (Term Deposit Account). This initiative aims to enhance accessibility and convenience for taxpayers managing their capital gains effectively.