The Central Board of Direct Taxes (CBDT) on September 15, 2026, issued the Procedure for registration of reporting person/entity and submission of Form No. 98.
The following has been stated:
• Rule 160 of the Income-tax Rules, 2026, requires persons/entities receiving declarations in Form No. 97 relating to specified transactions under Rule 159 to furnish a statement in Form No. 98. The statement is required to be submitted electronically through the designated server. Declarations received by September 30 shall be reported by October 31, while declarations received by March 31 shall be reported by April 30 of the following financial year.
• The Director General of Income-tax (Systems), under Rule 332, has prescribed the procedure for registration and filing. Reporting entities shall register on the Income Tax Department’s Reporting Portal and obtain an ITDREIN, with details of the reporting entity and principal officer. Existing entities registered for erstwhile Form No. 61 need not obtain a fresh ITDREIN; their existing registration and principal officer remain valid, with the principal officer acting as the Designated Director for Form No. 98. Form No. 98 is to be prepared using the prescribed schema/utilities and digitally signed and submitted through the Reporting Portal or Generic Submission Utility.
• The procedure also provides for correction and deletion of reports, including rectification of defects identified through Data Quality Reports until the Reports Requiring Correction become zero, and deletion through a separate Deletion Statement. Reporting entities shall maintain appropriate information-security, archival, and retrieval policies for submitted information and documents. The notification takes effect from September 15, 2026; however, reporting for FY 2025-26 and earlier years, including corrections/deletions, will continue under the Income-tax Act, 1961 and Income-tax Rules, 1962 through Form No. 61.
[Notification No. - 3 of 2026]
