Karur Vysya Bank (KVB) has introduced its Capital Gains Account Scheme (CGAS), following approval from the Ministry of Finance, Government of India.
The service is now available immediately at all KVB branches, except those in rural areas.
What Is the Capital Gains Account Scheme?
The Capital Gains Account is designed for individuals and Hindu Undivided Families (HUFs) who have sold assets like property, land, or securities.
It provides a safe way to park the proceeds from such sales while planning the next investment.
Under Indian tax laws, capital gains can be exempt from tax if the proceeds are reinvested within a specific time.
However, finding a new property or investment can take longer than the tax filing deadline.
The KVB Capital Gains Account allows customers to earn interest legally while complying with tax rules, giving them time to make thoughtful investment decisions.
The account is available across KVB’s non-rural branch network.
Customers can transfer funds through UPI, NEFT, and RTGS, and all operations follow existing regulatory requirements.
Two Types of Accounts to Suit Your Needs
KVB offers two account types under the scheme:
Type A (Savings Account): Suitable for periodic withdrawals, ideal for phased reinvestment or construction timelines.
Type B (Term Deposit): For parking capital gains for a fixed period, with options for cumulative or non-cumulative interest payouts.
Mr. B. Ramesh Babu, Managing Director & CEO of Karur Vysya Bank, said:
“The launch of our Capital Gains Account scheme reflects our commitment to comprehensive tax-planning solutions.
It helps customers maintain tax compliance while taking the time to make informed investment decisions.
With strong asset sales in the current economy, we believe this scheme will be highly valuable for our customers.”
