New Delhi, Nov. 21 -- The ministry of finance has announced one of the most sweeping updates to the Capital Gains Account Scheme (CGAS) since it was created in 1988, issuing the Capital Gains Accounts (Second Amendment) Scheme, 2025 on 19 November. The changes overhaul how taxpayers, non-resident Indians (NRIs) and businesses deposit, track and close CGAS accounts used to claim capital gains exemptions under Sections 54, 54B, 54D, 54F, 54G, 54GA and 54GB of the Income-tax Act.

At its core, the amendment pushes CGAS firmly into the digital era-allowing electronic deposits, expanding eligible banks, accepting online statements and mandating digital account closure from 2027. It also widens the scheme's applicability to businesses shifting ...