Capital Gains Accounts Scheme preserves exemption eligibility by allowing deposit of capital gains in designated accounts pending reinvestment.

Capital Gains Accounts Scheme, 1988 provides a statutory mechanism under the Income-tax Act for assessees eligible for capital gains exemptions to deposit capital gains in designated accounts when reinvestment conditions are not immediately met; it is effective from publication in the Official Gazette and applies to assessees entitled to exemption under the relevant capital gains provisions, with subsequent notifications able to amend the enabling provisions.

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