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lmplementation of lncome-tax Rules, 2026 - Revised Reporting and Compliance Framework for Post Office Transactions

Post Office Compliance Framework: Income-tax Rules, 2026

Reference: SB Order No. 02/2026 | Date: 27.04.2026
Overview: The Department of Posts has issued new guidelines following the CBDT's notification of the Income-tax Rules, 2026. Effective from April 1, 2026, these rules overhaul the reporting process for high-value financial transactions at Post Offices.
Major Changes in Statutory Forms
  • Consolidation of 15G/15H: The erstwhile Forms 15G and 15H have been merged into a single declaration, Form No. 121.
  • Replacement of Form 60: The traditional Form 60 is now replaced by Form No. 97 and Form No. 98.
  • Mandatory PAN: Quoting a Permanent Account Number (PAN) is now mandatory for specified high-value transactions; in its absence, Form No. 97 must be submitted.
Reporting & Timeline Compliance

Post Offices must strictly adhere to the following reporting schedules for Form No. 98:

  • September Cycle: Declarations received up to Sept 30 must be furnished by Oct 31.
  • March Cycle: Declarations received up to March 31 must be submitted by April 30 of the next financial year.
  • Unique Tracking: Every Form No. 121 declaration will be allotted a manual 26-character Unique Identification Number (UIN) for tracking.
Record Retention Periods
  • Form No. 97: Records must be preserved for 6 years from the end of the financial year.
  • Form No. 121: Records must be preserved for 7 years from the end of the tax year.

Get the full SB Order No. 02/2026 including FAQ and Sample Forms:

📥 DOWNLOAD OFFICIAL PDF
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