Notification No. 162/2025 [F. No. 370142/23/2024-TPL] / SO 5294(E)

What this is

Notification No. 162/2025 [F. No. 370142/23/2024-TPL] / SO 5294(E) was published on 19 November 2025. Its subject is Ministry of Finance.

What it does

In pursuance of clause (e) of paragraph 2 of the Capital Gains Account Scheme, 1988, and in continuation of the earlier notifications G.S.R. 725(E) dated 22 June 1988 and G.S.R. 859(E) dated 30 November 2012, the Central Government authorises all branches, except rural branches, of nineteen named banks to receive deposits and maintain accounts under the Scheme. The banks are HDFC Bank, ICICI Bank, Axis Bank, City Union Bank, DCB Bank, Federal Bank, IDFC FIRST Bank, IndusInd Bank, Jammu and Kashmir Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank, Yes Bank, Dhanlaxmi Bank, Bandhan Bank, CSB Bank and Tamilnad Mercantile Bank. The Explanation defines a rural branch as one situate and functioning at a centre whose population according to the 2011 census is less than ten thousand.

Who it reaches

• Assessees depositing capital gains under the Capital Gains Account Scheme, 1988 to preserve a rollover exemption
• The nineteen authorised banks and their branches
• Assessing Officers verifying that a deposit was made with an authorised branch
• Advisers directing clients where to open a capital gains account

The instrument, as the Board published it

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 19th November, 2025
(INCOME-TAX)
S.O. 5294(E).— In pursuance of clause (e) of paragraph 2 of the Capital Gains Account Scheme, 1988, and in continuation to the earlier notification numbers G.S.R.725(E), dated the 22nd June, 1988 and G.S.R 859(E), dated the 30th November, 2012, the Central Government hereby authorises all the branches (except rural branches) of the following banks to receive deposits and maintain accounts under the said Scheme, namely: –
(i) HDFC Bank Ltd;
(ii) ICICI Bank Ltd;
(iii) Axis Bank Ltd;
(iv) City Union Bank Ltd;
(v) DCB Bank Ltd;
(vi) Federal Bank Ltd;
(vii) IDFC FIRST Bank Ltd;
(viii) IndusInd Bank Ltd;
(ix) Jammu and Kashmir Bank Ltd;
(x) Karnataka Bank Ltd;
(xi) Karur Vysya Bank Ltd;
(xii) Kotak Mahindra Bank Ltd;
(xiii) RBL Bank Ltd;
(xiv) South Indian Bank Ltd;
(xv) Yes Bank Ltd;
(xvi) Dhanlaxmi Bank Ltd;
(xvii) Bandhan Bank Ltd;
(xviii) CSB Bank Ltd; and
(xix) Tamilnad Mercantile Bank Ltd.
Explanation. - For the purposes of this notification, a rural branch, in relation to the bank specified herein means a branch which is situate and is functioning at a centre, the population whereof, in accordance with the 2011 census is less than ten thousand.
[F. No. 162/2025/ F. No. 370142/23/2024-TPL]
KRITIKA JAIN, Under Secy. (Tax Policy and Legislation)
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

From when

19 November 2025.

What to watch

• The notification is dated 19 November 2025 and states no separate commencement date.
• Rural branches of these banks are excluded, and the test of a rural branch is a centre with a population below ten thousand as per the 2011 census.
• The authorisation is in continuation of the 1988 and 2012 notifications, so the banks already authorised by those notifications are not displaced.
• A deposit at a branch outside the authorisation does not answer the Scheme, which matters where a rollover exemption depends on a timely deposit.

Where you meet it

When capital gains are deposited before the due date of the return to keep alive an exemption on reinvestment, and in the proof of deposit produced in assessment.

← Notification No. 163/2025 [F. No. 300196/76/2024-ITA-I] / SO 5442(E)  ·  Notification No.161/2025 [F. No. 370142/23/2024-TPL] / SO 5293(E) →