HDFC Bank has secured authorisation from the government to offer deposits under the Capital Gains Accounts Scheme (CGAS), 1988. The CGAS provides a facility for taxpayers to hold their unused capital gains for a maximum of three years in a bank account. Under CGAS, taxpayers who are unable to finalise their re-investment before the income tax filing deadline can open savings accounts and fixed deposits with the bank across all urban and semi-urban branches (excluding rural branches).
According to the applicable section of the Income-Tax Act, the customers will able to avail tax exemption and also earn interest on their deposits for a maximum period of three years.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
