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| Capital Gains Exemption Deposit Scheme |
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| Features | | | | Forms & Documents | | |
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The Scheme is in force from 22nd June, 1988. The amount so deposited under this scheme would be required to be utilized by the assessee, within the specified period, for acquisition of new asset under the respective Section of the Income Tax Act, 1961.
Under this scheme, the tax payers can avail of the benefit of exemption from Capital Gains, if the amount of Capital Gains or the net consideration is deposited in the bank on or before the due date of filling the return of income. |
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| OPENING OF ACCOUNTS |
- Accounts under the Scheme can be opened only at Semi-Urban / Urban / Metropolitan Branches
- Two types of deposit accounts can be opened under this Scheme
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| DEPOSIT 'A' |
- The deposits made under this account shall be in the form of Savings Bank Deposits
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| DEPOSIT 'B' |
- Deposit made under this account will be in the form of Term Deposits, with an option to retain the deposit either as "cumulative" i.e. similar to our DRC Deposit [with interest reinvested] or as non-cumulative i.e. similar to our Fixed Deposit
- Such deposits may be made as a single lump sum amount or in instalments at any time on or before furnishing the Income Tax Return
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| WITHDRAWALS |
- Withdrawals under Deposit Account - A can be made from time to time by the depositor, subject to prevailing terms and other provisions of the Scheme, by submitting the requisite form
- Withdrawals under Deposit Account - B can be made after the expiry of the deposit period
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| For the Customers having any existing Account with Union Bank |
For the New Customers not having any Account with Union Bank |
- Application Form
- 2 Photographs
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- Application Form
- Proof of identity (any of the following )
- Passport
- PAN Card
- Employee identity card
- Any other valid proof
- Proof of address (any of the following)
- Electricity bill
- Telephone bill
- Ration card
- Any other valid proof
- 2 Photographs
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| APPLICATION FORM |
- To download the application form, please click here.
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| Product Testimonial |
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| Quick Links |
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 | | Link To: Union Monthly Plus |
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