CAPITAL GAINS ACCOUNTS SCHEME-1988, [GSR 724(E), DATED 22-6-1988]
CAPITAL GAINS ACCOUNTS SCHEME, 1988 [GSR 724(E), DATED 22-6-1988] In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section 54B, sub-section (2) of section 54D, sub-section (4) of section 54F and sub-section (2) of section 54G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby frames the following Scheme, namely :— Short title, commencement and application. 1. (1) This Scheme may be called the Capital Gains Accounts Scheme, 1988. (2) It shall come into force on the date of its publication in the Official Gazette. (3) It applies to all assessees who are eligible for exemption under section 54, 54B, 54D, 54F or 54G of the Income-tax Act, 1961 (43 of 1961). Definitions. 2. In this Scheme, unless the context otherwise requires,— ( a ) “ account ” means a deposit account under this Scheme; ( b ) “account-A” means deposit account-A mentioned in paragraph 4 of this Scheme; ...