How to register and file Form 98 for reporting entities
Reporting entities must register on the Income Tax e-filing portal and submit Form 98 to report specific transactions.
- Document
- Update
- Dated
- 21 Sep 2026
- Effective
- 15th September 2026
- Act by
- 31st October or 30th April
This page was written by Patron Accounting’s AI from the official release and reviewed before publishing. It explains the document in plain language. It is not the document itself. Where this page and the original differ, the original governs.
The short version
- Reporting entities must register on the Income Tax e-filing portal.
- Form 98 must be filed by October 31 or April 30.
- Entities already registered for Form 61 do not need to re-register.
- You must implement security and data storage policies for your records.
In short
Notification No. 3 of 2026 sets the rules for how certain businesses must report specific transactions using Form 98.
What has changed
How it worked before
There was no such rule for Form 98 before this notification.
What has changed
This creates a new requirement for specific reporting entities to register and submit data via the Income Tax Reporting Portal.
Who this affects
If you are a person or entity required to report transactions under rule 160 of the Income-tax Rules, 2026.
An example
A financial institution receives declarations in Form 97 from clients. Under this new rule, they must log in to the Income Tax e-filing portal to generate an ITDREIN. They then use this ID to upload Form 98 by the October 31 deadline for declarations received by September 30. They must also keep their internal security and data storage policies updated to protect this information.
What you should do
Log in to the Income Tax e-filing portal, navigate to the Reporting Portal under 'Pending Actions', and register your entity if you have not already done so for Form 61.
Deadline · 31st October or 30th AprilIf you do nothing
Failure to comply with reporting requirements can lead to penalties or notices from the Income Tax Department. You may also face difficulties if your data is found to be inaccurate and you fail to submit a correction statement.
The terms explained
- ITDREIN
- A unique identification number assigned to reporting entities by the Income Tax Department.
- Reporting Entity
- A person or business required by law to report specific financial transactions to the government.
- Principal Officer
- The person responsible for managing the entity's tax compliance and filing duties.
The original document
| Issued by | IT |
|---|---|
| Document | Update |
| Full title | CBDT has issued Notification No. 3 of 2026 notifying the Procedure for registration of reporting person/entity and submission of Form No. 98 as per rule 160 of the Income-tax Rules, 2026. Click here |
| Issued on | 21 September 2026 |
| Effective | 15th September 2026 |
About Patron Accounting LLP
Patron Accounting LLP is a CA and CS-led accounting and compliance firm that has been working with businesses across India since 2019. We handle the work that keeps a company correct with every department it answers to: day-to-day bookkeeping and accounting, GST registration and returns, income tax filing and assessments, TDS, payroll and PF/ESI, company and LLP incorporation, ROC and MCA compliance, statutory and internal audit, physical stock and inventory audits, trademark and other registrations, and the certificates and reports that banks, buyers and regulators ask for.
Our clients range from a first proprietorship registering for GST to established companies running operations across several states. Much of our work is exactly this: reading what a department has published and telling a business, in plain terms, whether it changes anything for them.
We operate from five offices and serve clients across the rest of India remotely:
- Pune (HQ): RTC Silver, B4-708, Sai Satyam Park, Wagholi, Pune, Maharashtra 412207
- Mumbai: 104, Rajshila Building, 597 J.S.S. Road, Marine Lines, Mumbai 400002
- Delhi: 3rd Floor, B-6/154-155, Sector 5, Rohini, Delhi 110085
- Gurugram: Pioneer Urban Square, B109, Golf Course Ext Road, Sector 62, Gurugram 122098
- Ahmedabad: Phoenix Tower, 1107, near Commerce Six Road, Drive In Road, Navrangpura, Ahmedabad, Gujarat 380009
If anything on this page affects you and you would like somebody to look at your own position, we are glad to help. Call +91 94594 56700, write to sales@patronaccounting.com, or visit patronaccounting.com. The first conversation costs nothing.