Form 98 Income Tax Rules 2026 pdf download and Key points

Last Updated on: April 16, 2026

Form 98 Income Tax Rules 2026 pdf download and Key points

FORM NO. 98
[See rule 160]
Statement containing particulars of declaration received in Form No. 97

Under the new Income-tax Rules, 2026, Form No. 98 replaces the old Form 61. It is directly linked to Form No. 97 (which replaces the old Form 60 used by persons without a PAN).

Here are all the key points regarding Form No. 98:

1. Purpose of the Form Form 98 is a half-yearly statement used to report the particulars of declarations received in Form No. 97. (Note: Form 97 is filed by individuals who do not possess a Permanent Account Number (PAN) but are entering into specified financial transactions).

2. Who Must File (Applicability) Every person or reporting entity that receives a declaration in Form No. 97 from a transacting party is required to consolidate these details and file this statement with the Income Tax Department.

3. Governing Rule The form is governed by Rule 160 of the Income-tax Rules, 2026.

4. Frequency and Due Dates The reporting entity must file Form 98 twice a year based on when the declarations were received:

For declarations received between April and September: The due date for filing is 31st October of the same Financial Year.
For declarations received between October and March: The due date for filing is 30th April of the next Financial Year.

5. Structure of the Form While the form accommodates the details of the Form 97 declarations, its primary header/Part A captures specific Statement Details to identify the filing:

Reporting Person Details: Name of the reporting person/entity and their unique Income-tax Department Reporting Entity Identification Number.
Statement Details: The Statement Type (via a 2-character code), Original Statement ID (if correcting a previously filed form), the Reason for Correction (1-character code), and the Statement Date.