**Executive Summary**
This notification, issued by the Ministry of Finance on November 19, 2025, announces the Capital Gains Accounts (Second Amendment) Scheme, 2025. This scheme amends the Capital Gains Account Scheme of 1988 and introduces provisions for electronic modes of payment. The scheme takes effect upon its publication in the Official Gazette. A key date to note is April 1, 2027, from when electronic closure of the account is available.
**Key Points / Main Content**
* **Scheme Title:** The amendment is named the Capital Gains Accounts (Second Amendment) Scheme, 2025.
* **Effective Date:** The scheme comes into force on the date of its publication in the Official Gazette.
* **Amendments to Capital Gains Accounts Scheme, 1988:**
* Inclusion of section 54GA alongside existing sections 54G.
* Revised definition of "Deposit Office" to include specific banks authorized by the Central Government to receive deposits under the scheme.
* Definition of "electronic mode" of payment to include credit card, debit card, net banking, IMPS, UPI, RTGS, NEFT, and BHIM Aadhaar Pay.
* Amendments to paragraph 5 regarding modes of deposit and effective deposit dates to account for electronic modes.
* Inclusion of "electronic statement of account" along with "pass book" across paragraphs 7 and 9.
* Option of electronic closure of account with digital signature or electronic verification code shall be available on and from the 1st April, 2027.
* **Forms G and H Processing:**
* The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or their authorized personnel, shall be responsible for specifying the filing procedure, forwarding forms to the Assessing Officer and applicant upon approval, specifying data standards for electronic verification, and formulating security policies for Forms G and H.
* **Amendments to Forms:**
* Inclusion of “54GA” alongside “54G” in Form A.
* Addition of symbols “/*by electronic mode” in Forms A and C in reference to Demand Draft.
* Addition of electronic transaction details under the heading FOR THE USE OF DEPOSIT OFFICE in Form C.
**Impact Analysis**
**Stakeholder: Depositors using Capital Gains Accounts**
* **Impact:** Enhanced flexibility in depositing funds and managing accounts through electronic modes. Electronic closure of account will be available from 1st April, 2027.
* **Action Required:** Familiarize themselves with the new electronic payment options and revised procedures for deposits and account management.
**Stakeholder: Banks Authorised to Accept Deposits under the Scheme**
* **Impact:** Potential need to update systems to accommodate electronic payment methods and electronic account statements.
* **Action Required:** Adapt systems and procedures to process electronic payments, generate electronic statements of accounts, and comply with new reporting requirements.
**Stakeholder: Assessing Officers**
* **Impact:** Changes in assessing and processing forms G and H.
* **Action Required:** To be updated on revised processes by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) and the applicant.
Key Entities Referenced
Income-tax Act, 1961: Governing law for income tax in India. The notification amends provisions related to capital gains under this act.
Capital Gains Accounts Scheme, 1988: A scheme under the Income-tax Act, 1961, amended by this notification, allows individuals to deposit capital gains in a specified account to claim exemption from tax.
Capital Gains Accounts (Second Amendment) Scheme, 2025: This is the specific amendment scheme introduced by this notification
Ministry of Finance: The issuer of the notification, responsible for tax policies in India.
Central Board of Direct Taxes: Department under the Ministry of Finance, responsible for direct tax administration.
4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
10. उि स्ट्कीम के प्ररूप क में,-
(क) “*54छ/” जचन्द्ह, अंकों और अक्षर के पश्चात् “*54छक/” जचन्द्ह, अंक और अक्षर अंत:स्ट्र्ाजपत दकए
िाएंगे ;
(ख) “मांगिेय ड्राफ्ट” िब्िों के पश्चात् “/*इलेक्ट्रोजनक पद्धजत से” जचन्द्ह और िब्ि अंत:स्ट्र्ाजपत दकए
िाएंगे;
(ग) “……… पर जलखे गए मांगिये ड्राफ्ट संख्या.........., तारीख..........द्वारा” िब्िों और अक्षरों के
पश्चात् “/*इलेक्ट्रोजनक पद्धजत द्वारा” जचन्द्ह और िब्ि अंत:स्ट्र्ाजपत दकए िाएगं े;
11. उि स्ट्कीम के प्ररूप ग म,ें -
(क) पैरा 2 में, “धारा 54छ/”, अंकों, अक्षर और जचन्द्ह के पश्चात ् “धारा 54छक/” अंक, अक्षर और जचन्द्ह
अंत:स्ट्र्ाजपत दकए िाएंग े ;
(ख) पैरा 3 के खंड (ii) म,ें “मागं िेय ड्राफ्ट के रूप म”ें िब्िों के पश्चात् “/इलक्ट्े रोजनकी पद्धजत द्वारा” जचन्द्ह
और िब्ि अतं :स्ट्र्ाजपत दकए िाएंगे ।
(ग) “जनक्षेप कायाडलय के प्रयोग के जलए” िीषडक के अधीन, खडं (ii) म,ें उप खंड (ख) के पश्चात ्जनम्नजलजखत
उपखंड अंत:स्ट्र्ाजपत दकया िाएगा, अर्ातड ्:-
“(ग) आरटीिीएस/आईएमपीएस/एनईएफटी/संव्यिहार संख्या..............तारीख.......” ।
[फा .सं.161/2025/फा.सं.370142/23/2024-टीपीएल]
कृजतका िैन, अिर सजचि (कर नीजत और जिधान)
ठटप्पण- पूंिी अजभलाभ खाता स्ट्कीम, 1988 भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) में अजधसूचना
सं. सा.का.जन. 724(अ), तारीख 22 िून, 1988 द्वारा प्रकाजित की गई र्ी और अंजतम बार इसे अजधसूचना
सं. का.आ. 2553(अ), तारीख 25 अिूबर, 2012 द्वारा संिोजधत दकया गया र्ा ।
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 19th November, 2025
(INCOME-TAX)
S.O. 5293(E).— In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section
54B, sub-section (2) of section 54D, sub-section (4) of section 54F, sub-section (2) of section 54G, sub-section (2) of
section 54GA and sub-section (2) of section 54GB of the Income-tax Act, 1961 (43 of 1961), the Central Government
hereby makes the following Scheme further to amend the Capital Gains Account Scheme, 1988, namely:-
1. This Scheme may be called the Capital Gains Accounts (Second Amendment) Scheme, 2025.
(2) It shall come into force on the date of its publication in the Official Gazette.[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 5
2. In the Capital Gains Accounts Scheme, 1988 (hereinafter referred to as the said Scheme), in paragraph
1, in sub-paragraph (3), after the figures and letter “54G”, the figures and letters “, 54GA” shall be inserted.
3. In the said Scheme, in paragraph 2,–
(i) for clause (e), the following clause shall be substituted, namely:–
‘(e)"Deposit Office" means any branch or branch office of–
(i) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of
1955) or of a subsidiary bank as defined in the State Bank of India (Subsidiary
Banks) Act, 1959 (38 of 1959), or of a corresponding new bank constituted under
section 3 of the Banking Companies (Acquisition and Transfer of Undertakings)
Act, 1970 (5 of 1970) or under section 3 of the Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1980 (40 of 1980); or
(ii) a "banking company" as defined under clause (c) of section 5 of the Banking
Regulation Act, 1949(10 of 1949),
which is authorised by the Central Government, by notification in the Official Gazette, to
receive deposit and maintain account of the depositor under this Scheme;’;
(ii) in clause (f), after the figures and letter “54G”, the figures and letters “, 54GA” shall be inserted;
(iii) after clause (f), the following clause shall be inserted, namely:-
‘(fa) “electronic mode” means payment by use of electronic clearing system through a bank account
or by way of any of the following modes, namely:––
(a) credit card;
(b) debit card;
(c) net banking;
(d) IMPS (Immediate Payment Service);
(e) UPI (Unified Payment Interface);
(f) RTGS (Real Time Gross Settlement);
(g) NEFT (National Electronic Funds Transfer), and
(h) BHIM (Bharat Interface for Money) Aadhaar Pay;’.
4. In the said Scheme, in paragraph 3, after the figures and letter “54G”, the words, figures and letters “or
section 54GA” shall be inserted.
5. In the said Scheme, in paragraph 5,–
(a) in sub-paragraph (4), after the words “cheque or by draft”, the words “or by electronic mode”
shall be inserted;
(b) for sub-paragraph (6), the following sub-paragraph shall be substituted, namely:-
“(6) If the deposit is made by a cheque or a draft or by electronic mode then, subject to such
cheque or draft or payment by such electronic mode being realised, the effective date of
deposit for the purpose of claiming exemption under the Act shall be the date on which the
cheque or draft or payment by such electronic mode is received by the deposit office along
with the application made under sub-paragraph (1) or sub-paragraph (5), as the case may
be.”;
(c) in sub-paragraph (7), after the words “of the cheque or the draft”, the words “or the date of
receipt of the deposit by electronic mode” shall be inserted.
6. In the said Scheme, in paragraph 7, in sub-paragraph (7), after the words “together with his pass book”,
the words “or electronic statement of account” shall be inserted.
7. In the said Scheme, in paragraph 9,–
(a) in sub-paragraph (1), after the words “together with the pass book” the words “or electronic
statement of account” shall be inserted;
(b) in sub-paragraph (2), after the words “in the pass book”, the words “or electronic statement of
account, as applicable” shall be inserted;6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(c) in sub-paragraph (4), after the words, brackets and figures “in sub-paragraph (3), by way of”,
the words “electronic mode or” shall be inserted.
8. In the said Scheme, in paragraph 10, in sub-paragraph (1), after the words, figure and letter “of section
54G”, the words, brackets and figures “or sub-section (2) of section 54GA” shall be inserted.
9. In the said Scheme, in paragraph 13, after sub-paragraph (6), the following sub-paragraphs shall be
inserted, namely:–
“(7) The option of closure of account to be exercised under this paragraph, shall be
furnished electronically either under digital signature or electronic verification code on and from the
1st April, 2027.
(8) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax
(Systems), or any person authorised by the Principal Director General of Income-tax (Systems) or
Director General of Income-tax (Systems), as the case may be, shall, —
a) specify the procedure for filing of Form G and Form H;
b) forward Form G or Form H, as applicable, to the Assessing Officer having jurisdiction over
the applicant, and upon approval by the Assessing Officer, to the applicant;
c) specify the data structure, standards and manner of generation of electronic verification code,
referred to in sub-paragraph (7), for verification of the person furnishing the said Form; and
d) be responsible for formulating and implementing appropriate security, archival and retrieval
policies in relation to the Form so furnished.”.
10. In the said Scheme, in Form A, ──
(a) after the symbol, figures and letter “*54G/”, the symbol, figures and letters “*54GA/” shall be
inserted.
(b) after the words “Demand Draft”, the symbols and words “/*by electronic mode” shall be
inserted;
(c) after the words and letters “Demand Draft No. …… dated ……. drawn on …….”, the symbols
and words “/* by electronic mode” shall be inserted.”
11. In the said Scheme, in Form C, ──
(a) in paragraph 2, after the word, figures, letter and symbol “section 54G/”, the word, figures,
letters and symbol “section 54GA/” shall be inserted;
(b) in paragraph 3, in clause (ii), after the words “Demand Draft”, the symbol and words “/by
electronic mode” shall be inserted;
(c) under the heading “FOR THE USE OF DEPOSIT OFFICE”, in clause (ii), after sub-clause
(b), the following sub-clause shall be inserted, namely: –
“(c) RTGS/IMPS/NEFT/Transaction No……………… dated………”.
[F. No.161/2025/F. No. 370142/23/2024-TPL]
KRITIKA JAIN, Under Secy. (Tax Policy and Legislation)
Note: The Capital Gains Accounts Scheme, 1988 was published in the Gazette of India, Extraordinary, Part II, section
3, sub-section (i) vide notification number G.S.R. 724 (E), dated the 22nd June, 1988 and was last amended
vide notification number S.O. 2553 (E) dated the 25th October, 2012.
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