Karur Vysya Bank Introduces Capital Gains Account Scheme

Karur Vysya Bank launched the Capital Gains Account scheme to help individuals manage proceeds from asset sales while availing tax exemptions. This scheme provides a secure way to hold funds, ensuring compliance with tax regulations. It supports digital transfers and aligns with the bank's existing digital infrastructure.

Karur Vysya Bank has unveiled the Capital Gains Account scheme, following recent clearance from the Ministry of Finance. This initiative aims to aid individuals in managing funds from asset sales, such as properties and securities, ensuring they remain within the bounds of tax exemptions.

B. Ramesh Babu, Managing Director and CEO, highlighted the scheme's role in supporting comprehensive tax-planning solutions. He emphasized that the service not only helps in maintaining tax compliance but also provides customers the necessary time to make well-informed investment decisions.

The scheme, which excludes rural markets, is immediately available across the bank's branch network. It is integrated with the bank's digital services, allowing fund transfers via UPI and NEFT, and adheres to regulatory norms.

(With inputs from agencies.)