Union Bank of India- Product

Search

Home You are here : path  Products path Personal path Union Capital Gain Deposit Scheme

image   CAPITAL GAINS EXEMPTION DEPOSIT SCHEME

Features

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.
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
DEPOSIT 'A'
  • The deposits made under this account shall be in the form of Savings Bank Deposits
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
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

Forms & Documents


union

union

  • Rewarded

    Rewarded

    Earn reward points on transactions made at POS and e-commerce outlets

  • Book your locker

    Book your locker

    Deposit lockers are available to keep your valuables in a stringent and safe environment

  • Financial Advice?

    Financial Advice?

    Connect to our financial advisors to seek assistance and meet set financial goals.

  • ATM & Branch Network

    ATM & Branch Network

    Find PNB Branches and ATMs in proximity to your location.