The Central Government has issued amendments to the Capital Gains Accounts Scheme, 1988 to modernise the scheme, expand its statutory coverage and integrate electronic modes for deposits, withdrawals, documentation and account closure.

The amendment expands the Capital Gains Accounts Scheme, 1988 to cover section 54GA, updating all related references. It modernises the Scheme by formally introducing electronic payment modes—including UPI, IMPS, RTGS, NEFT, net banking, debit/credit cards and BHIM Aadhaar Pay—for making deposits and withdrawals. The definition of “Deposit Office” is widened to include authorised banking companies, not just specified public sector banks.

Procedures for making deposits are revised so that the effective date is the date the deposit office receives the cheque, draft or electronic payment. Passbook-based processes are updated to allow electronic statements of account. From 1 April 2027, closure of accounts must be done electronically using digital signature or electronic verification code. The Income-tax Systems Directorate will prescribe procedures, data standards, verification methods and security requirements for electronic filing of Forms G and H.

Forms A and C are updated to add section 54GA, recognise electronic deposits and include fields for electronic transaction numbers (RTGS/IMPS/NEFT).