The Central Board of Direct Taxes (CBDT) on March 05, 2026, notified the Income-tax _________ (Amendment) Rules, 2026 further to amend the Income-tax Rules, 1962.
The following has been stated: -
•The amendment to Rule 114F of the Income Tax Rules, 1962, introduces provisions relating to central bank digital currencies (CBDCs), crypto-assets, and electronic money products for accounts other than U.S. reportable accounts.
•It expands the definition of depository accounts to include accounts holding electronic money products and CBDCs for customers.
•The rules also introduce definitions such as “central bank digital currencies,” “relevant crypto-asset,” “specified electronic money product,” and “qualified non-profit entity.”
•Certain financial assets now include interests in relevant crypto-assets for reporting purposes.
•Additionally, exemptions and reporting conditions are updated for specific accounts, entities, and transactions involving crypto-assets and digital financial instruments.
They shall come into force from January 01, 2026.
The detailed notification is given in the document below.
[Notification No.: G.S.R. 158(E)]
