What is CGAS in income tax?

CGAS or Capital Gains Account Scheme allows taxpayers to deposit capital gains temporarily until they invest in another property to claim tax exemption.

Which banks provide CGAS accounts?

Most public sector banks such as SBI, Bank of Baroda, Punjab National Bank and Canara Bank offer Capital Gains Account Scheme accounts.

Is CGAS deposit required for Section 54 exemption?

If the capital gains amount is not invested before filing the income tax return, the remaining amount must be deposited in CGAS to claim exemption.

CGAS Deposit Calculator – Calculate Amount to Deposit in Capital Gains Account Scheme

CGAS Deposit Rules for Section 54 and Section 54F

If you sell a property and want to save capital gains tax under Section 54 or Section 54F, you may need to deposit the capital gains amount in the Capital Gains Account Scheme (CGAS).

The CGAS Deposit Calculator by CA Shiwali helps you estimate the amount that should be deposited in the Capital Gains Account Scheme when you cannot immediately invest in another property.

This calculator is useful for:

• Property sellers planning Section 54 exemption
• Taxpayers filing ITR before reinvestment
• Individuals planning capital gains tax saving

Use the calculator below to estimate your CGAS deposit requirement.

📞 CA Shiwali – Chartered Accountant
Call / WhatsApp: 9266032777
🌐 Website: cashiwali.com

CGAS Deposit Calculator

By CA Shiwali | cashiwali.com | Call/WhatsApp 9266032777

Sale Price of Property (₹) Indexed Cost of Acquisition (₹) Cost of Improvement (₹) Transfer Expenses (Brokerage etc) (₹) Amount Already Invested in New Property (₹)

Results

Total Capital Gain: ₹ 0

Amount Already Invested: ₹ 0

Recommended CGAS Deposit: ₹ 0

For professional tax planning contact CA Shiwali at 9266032777.

What This Calculator Does

It calculates:

✔ Capital gain from property sale
✔ Amount already invested in new property
✔ Remaining amount that should be deposited in CGAS

This helps taxpayers claim exemption under Section 54

or Section 54F.

Section 54 Capital Gains Exemption

If you are reinvesting the capital gains from a property sale into another residential property, you may claim exemption under Section 54 of the Income Tax Act.

See our complete guide on Section 54 & Section 54F capital gains exemption on property sale to understand eligibility conditions and tax planning strategies.

Example CGAS Calculation

Suppose:

Sale price = ₹80,00,000
Indexed cost = ₹30,00,000
Improvement cost = ₹5,00,000
Expenses = ₹1,00,000

Capital gain:

80,00,000 – 36,00,000
= ₹44,00,000

If you already invested:

₹20,00,000 in a new house

Remaining amount for CGAS deposit:

44,00,000 – 20,00,000
= ₹24,00,000

Important CGAS Rules (India)

Capital Gains Account Scheme allows taxpayers to temporarily deposit capital gains until they purchase or construct another property.

Key rules:

• Deposit must be made before filing income tax return
• Funds must be used within 2 or 3 years depending on the exemption section
• Deposit can be made in authorized banks

FAQs

What is CGAS?

Capital Gains Account Scheme is a government scheme that allows taxpayers to deposit capital gains temporarily to claim exemption under Section 54 or Section 54F.

When should CGAS deposit be made?

The deposit should be made before the due date of filing the income tax return.

Which banks offer CGAS accounts?

Most major banks such as SBI, Bank of Baroda, Punjab National Bank and Canara Bank provide CGAS accounts.

Can CGAS money be withdrawn?

Yes, but withdrawal must be used only for purchase or construction of property.

📞 CA Shiwali – Chartered Accountant
Call / WhatsApp: 9266032777
🌐 Website: cashiwali.com

Next Steps After Calculation

    
 
 
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