Major update on Capital Gains Account Scheme: 19 new banks authorised to offer CAGS services for saving income tax by property sellers

Nineteen new banks are now authorized to offer Capital Gains Account Scheme Services. This expansion provides more options for taxpayers to deposit unutilized capital gains and claim tax exemptions. Homebuyers will benefit from increased flexibility in choosing banking services for these transactions. The move aims to simplify the process for individuals seeking tax relief on asset transfers.