Quick Summary
The Central Government has notified the Income Tax (First Amendment) Rules, 2026, introducing important changes to the Income Tax Rules, 1962 . The amendments were issued by the Central Board of Direct Taxes (CBDT) through a notification published in the Gazette of India. The new rules expand the scope of financial reporting requirements and bring crypto assets, electronic money products and central bank digital currencies (CBDC) within the regulatory framework. Key Changes in the Amendment
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FAQ :
The Income Tax (First Amendment) Rules, 2026, are effective from 1st January 2026.
Financial institutions must now report holdings in relevant crypto-assets, central bank digital currencies (CBDC), and specified electronic money products.
CBDC is defined as digital legal tender issued by a central bank.
Financial institutions need to report whether the account holder provided a valid self-certification, if the account is joint and the number of holders, and the type of account (pre-existing or new).
The amendments aim to improve transparency and compliance in financial transactions, strengthen tax transparency, information exchange, and financial monitoring.
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