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of <h1>Understanding Deposit Accounts A and B under Capital Gains Accounts Scheme and timing of deposits under sections 139(1) and 54GB</h1> Para 4 of the Capital Gains Accounts Scheme, 1988 prescribes two types of deposit accounts: Deposit Account-A and Deposit Account-B. Account-A is a savings deposit permitting withdrawals from time to time, subject to other Scheme provisions. Account-B is a term deposit, which may be cumulative or non-cumulative, and generally allows withdrawals only after expiry of the specified term, except as provided in paragraphs 7 and 9. Deposits under either account may be made in a lump sum or in instalments, at any time up to the due date for filing the income tax return under section 139(1) of the Act, applicable to the depositor or eligible assessee under section 54GB.
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