New Delhi, March 26 -- IndusInd Bank announced the launch of Capital Gains Account Scheme (CGAS) on Thursday, under which customers can park long-term capital gains until reinvestment, and avail tax exemptions in accordance with the provisions of Income-tax Act, 1961.

The scheme provides a secure and compliant facility for holding unutilised capital gains, allowing customers to make well-informed reinvestment decisions, within prescribed statutory timelines, IndusInd Bank said in a regulatory fling on March 26.

The Central Board of Direct Taxes (CBDT) had earlier granted the authorisation to the private lender, permitting it to accept deposits under the Capital Gains Account Scheme, 1988.

Under the scheme, the Bank will accept deposits...