<s>[INST] What is the Capital Gains Account Scheme? [/INST] ​Accounts opened under Capital Gains Accounts Scheme are special purpose accounts which are opened with an authorized bank. If assessee could not utilise the capital gains to purchase or construct a residential house by the due date of filing return of income, he may deposit the amount of capital gains in such accounts to claim the exemption from capital gains. ​ </s>