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Bare acts > Capital Gains Accounts Scheme, 1988 > Scheme 4

4. Types of deposits.- (1) There shall be two types of deposit accounts, namely :—

(i) “Deposit account-A”; and

(ii) “Deposit account-B”.

(2) The deposit made under account-A shall be in the form of ‘savings deposit’ and subject to the other provisions of this Scheme, withdrawals under this account can be made from time to time by the depositor.

(3) The deposit made under account-B shall be in the form of ‘term deposit’ with an option to the depositor to keep the deposit as cumulative or non-cumulative deposit. Except as provided under paragraph 7 and paragraph 9, withdrawals under this account can be made only after the expiry of the period for which the deposit under this account has been made and accepted.

(4) Such deposits may be made in one lump sum or in instalments at any time on or before the due date of furnishing the return of income under sub-section (1) of section 139 of the Act as is applicable in the case of the depositor.





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