Whether interest received on amount deposited in capital gain account under capital gain account scheme is taxable?
​​​•  Capital Gains Account Scheme is a scheme to facilitate the taxpayer.
  •  If taxpayer could not invest the capital gains

   -   to acquire new asset

   -   before due date of furnishing of return of income

   -   then the capital gains amount can be deposited

   -   before due date for furnishing of return of income

   -   in a special bank account

   -   maintained in any branch of a nationalized bank

  •  Interest earned on Capital Gains Account is chargeable to tax under the head "Income from Other Sources"

  •  Interest earned on Capital Gain Account is charged to tax in the year it accrues and is credited to the capital gain account of the assessee.