Rule 243Published

Rule 243: Reporting crypto-asset transactions in Form No. 167

Rule 243 sets out what a reporting crypto-asset service provider must maintain and report for each calendar year starting on or after 1 January 2026, for crypto-asset users that are reportable users or have controlling persons that are reportable persons. It lists the identity details and the aggregated transaction figures for each type of relevant crypto-asset, explains how amounts and fair market values are worked out in Indian Rupee, and requires a statement (or a nil statement) in Form No. 167 by 31 May of the following calendar year, furnished electronically and signed by the designated director.

Official notified Income-tax Rules, 2026

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On this page

Bare law
What is reported: Rule 243(1) to (4)
Form No. 167, nil statement and due date: Rule 243(5) to (7)
How amounts and values are worked out: Rule 243(8)
Filing and signature: Rule 243(9) to (12)
Printed as in the gazette
Key takeaways
Practical checklist
FAQs
Glossary
Official sources
Related rules

Bare law

Rule 243 - Reporting requirements for transaction of crypto-asset under section 509
(1) For each relevant calendar year starting on or after the 1st January, 2026 and subject to the obligations of the reporting crypto-asset service provider under section 242 and due diligence procedures under section 244, the following information shall be maintained and reported by the reporting crypto-asset service providers in respect of crypto-asset users that are reportable users, or that have controlling persons that are reportable persons:––
(a) the name, address, country(s) or territory(s) of residence, TIN(s) and date and place of birth (in the case of an individual) of each reportable user;
(b) in the case of a reportable user that is identified as having more than one country or territory of residence, the country or territory of residence and TIN to be reported are of all such country(s) or territory(s) of residence and all TIN(s) identified by the reporting crypto-asset service provider;
(c) in case any entity is identified as having one or more controlling persons that is a reportable person, after application of the due diligence procedures, the name, address, country(s) or territory(s) of residence and TIN(s) of the entity and the name, address, country(s) or territory(s) of residence, TIN(s) and the date and place of birth of each reportable person, as well as, the role(s) by virtue of which each reportable person is a controlling person of the entity;
(d) the name, address and Permanent Account Number of the reporting crypto-asset service provider;
(e) for each type of relevant crypto-asset with respect to which it has effected relevant transactions during the relevant calendar year,—
(i) the full name of the type of relevant crypto-asset;
(ii) the aggregate gross amount paid, the aggregate number of units and the number of relevant transactions in respect of acquisitions against fiat currency;
(iii) the aggregate gross amount received, the aggregate number of units and the number of relevant transactions in respect of disposals against fiat currency;
(iv) the aggregate fair market value, the aggregate number of units and the number of relevant transactions in respect of acquisitions against other relevant crypto-assets;
(v) the aggregate fair market value, the aggregate number of units and the number of relevant transactions in respect of disposals against other relevant crypto-assets;
(vi) the aggregate fair market value, the aggregate number of units and the number of reportable retail payment transactions;
(vii) the aggregate fair market value, the aggregate number of units and the number of relevant transactions, and sub-divided by the transfer type known by the reporting crypto-asset service provider, in respect of transfers to the reportable user not covered by sub-clauses (ii) and (iv);
(viii) the aggregate fair market value, the aggregate number of units and the number of relevant transactions, and sub-divided by the transfer type known by the reporting crypto-asset service provider, in respect of transfers by the reportable user not covered by sub-clauses (iii), (v) and (vi);
(ix) the aggregate fair market value, as well as the aggregate number of units in respect of transfers by the reportable crypto-asset user effectuated by the reporting crypto-asset service provider to wallet addresses not known by the reporting crypto-asset service provider to be associated with a virtual asset service provider or financial institution.
(2) (a) Irrespective of anything contained in clauses (a) and (b) of sub-rule (1), the TIN is not required to be reported, if ––
(i) a TIN is not issued by the country or territory outside India in which reportable user is resident for tax purposes; or
(ii) the domestic law of the country or territory outside India does not require the collection of the TIN issued by such country or territory in which reportable user is resident for tax purposes; and
(b) for the purposes of clause (a), a TIN is considered not to be issued by a country or territory outside India ––
(A) where such country or territory does not issue a TIN nor a functional equivalent in the absence of TIN; or
(B) where such country or territory has not issued a TIN to a particular individual or entity.
(3) Irrespective of anything contained in clauses (a) to (c) of sub-rule (1), the place of birth is not required to be reported unless the reporting crypto-asset service provider is otherwise required to obtain and report it under domestic law.
(4) The information reported must identify the fiat currency in which each amount is reported.
(5) The statement of relevant transactions required to be furnished under sub-section (1) of section 509, shall be furnished by a reporting crypto-asset service provider in respect of each crypto-asset user or controlling person which has been identified, as a reportable user or reportable person, as the case may be.
(6) Where, pursuant to the due diligence procedure specified in rule 244, no crypto-asset user or controlling person is identified as a reportable user or reportable person, a nil statement shall be furnished by the reporting crypto-asset service provider.
(7) The statement referred to in sub-rules (5) and (6) shall be furnished in Form No. 167 by the 31st of May of the calendar year following the year to which the information relates.
(8) (a) For the purposes of sub-clauses (ii) and (iii) of sub-rule (1)(e),––
(i) the reporting crypto-asset service providers shall report the amount paid or received by the reportable user net of transaction fees;
(ii) the amounts paid or received shall be reported in Indian Rupee;
(iii) where amounts were paid or received in fiat currencies (other than Indian Rupee),–
(A) they shall be reported in Indian Rupee, converted at the time of each relevant transaction; and
(B) the rate of conversion for calculation of value of such fiat currency in Indian Rupee shall be the telegraphic transfer buying rate of such fiat currency as on date on which relevant transaction takes place;
(iv) the reporting crypto-asset service provider shall aggregate, that is, sum up, all transactions attributable to each reporting category for each type of relevant crypto-asset;
(v) an acquisition or disposal is any transaction effected by the reporting crypto-asset service provider where the reportable user obtains or alienates a relevant crypto-asset, irrespective of whether such asset is obtained or delivered from or to a third-party seller, or from or to the reporting crypto-asset service provider itself; and
(vi) where a reportable user acquires or disposes of a relevant crypto-asset against fiat currency, and the reporting crypto-asset service provider does not have actual knowledge of the underlying fiat currency consideration, such transactions shall be reported upon as transfers sent to or by a reportable user under sub-clauses (vii) and (viii) of sub-rule (1)(e), respectively.
(b) For the purposes of sub-clauses (iv) and (v) of sub-rule (1)(e),––
(i) the reporting crypto-asset service providers shall report the fair market value of the relevant crypto-asset acquired or disposed, net of transaction fees;
(ii) the fair market value shall be determined and reported in Indian Rupee, valued at the time of each relevant transaction;
(iii) for the purposes of sub-clause (ii),––
(A) a reporting crypto-asset service provider shall rely on applicable crypto-asset to Indian Rupee trading pairs, that it maintains to determine the fair market value of both relevant crypto-assets; or
(B) where a difficult-to-value relevant crypto-asset is exchanged for a relevant crypto-asset that can be readily valued, the valuation in Indian Rupee of the relevant crypto-asset against which the difficult-to-value relevant crypto-asset is exchanged shall be relied upon to establish Indian Rupee value for the difficult-to-value relevant crypto-asset;
(iv) the reporting crypto-asset service provider shall aggregate, that is, sum up, all transactions attributable to each reporting category;
(v) all crypto-asset-to-crypto-asset transactions conducted by the same reporting crypto-asset service provider are subject to reporting under both said sub-clauses;
(vi) where a reportable user effects a crypto-asset-to-crypto-asset transaction, although the reporting crypto-asset service provider does not have actual knowledge of the relevant crypto-asset acquired or disposed, such transactions shall be reported upon as transfers sent to or by a reportable user under sub-clauses (vii) and (viii) of sub-rule(1)(e), respectively.
(c) For the purposes of sub-clause (vi) of sub-rule (1)(e), ––
(i) the customer of the merchant for, or on behalf of, whom the reporting crypto-asset service provider is providing a service effecting reportable retail payment transactions shall be treated as the crypto-asset user (subject to the conditions specified in the definition of crypto-asset user), and therefore, as the reportable user, in addition to the merchant;
(ii) the aggregate information with respect to reportable retail payment transactions by the customer of the merchant shall not be included in the aggregate information reported with respect to Transfers under sub-clause (viii) of sub-rule (1)(e); and
(iii) the aggregate information with respect to transfers that do not constitute reportable retail payment transactions solely by virtue of not meeting the de minimis threshold, shall be included in the aggregate information reported with respect to transfers under sub-clauses (vii) and (viii) of sub-rule (1)(e), respectively.
(d) For the purposes of sub-clause (ix) of sub-rule (1)(e),––
(i) the reporting crypto-asset service provider shall not be required to report the aggregate number of units or the aggregate fair market value of transfers, under this sub-clause, in case the reporting crypto-asset service provider knows that the wallet address to which the relevant crypto-asset is transferred is associated with a virtual asset service provider or financial institution, as defined in the Financial Action Task Force Recommendations;
(ii) a reporting crypto-asset service provider shall be required to collect and retain within its records, for a period not less than seven years, any external wallet addresses (including other equivalent identifiers) associated with transfers of relevant crypto-assets; and
(iii) the reporting of wallet addresses associated with transfer of relevant crypto-assets shall not be required.
(e) For the purposes of sub-clauses (vi), (vii), (viii) and (ix) of sub-rule(1)(e),––
(i) the fair market value shall be determined and reported in Indian Rupee, using the valuation method as specified in sub-clause (ii);
(ii) in performing the valuation, the reporting crypto-asset service provider shall use as a reference, the values of relevant crypto-asset and Indian Rupee trading pairs it maintains to determine the fair market value of the relevant crypto-asset at the time it is transferred;
(iii) where the reporting crypto-asset service provider effecting the transfer does not maintain an applicable reference value of the relevant crypto-asset and Indian Rupee trading pairs, the following valuation methods shall be relied upon:––
(A) firstly, the internal accounting book values maintained by the reporting crypto-asset service provider with respect to the relevant crypto-asset shall be used;
(B) if a book value is not available, a value provided by third-party companies or websites that aggregate current prices of relevant crypto-assets shall be used, if the valuation method used by that third party is reasonably expected to provide a reliable indicator of value;
(C) if neither of the methods specified in item (A) and (B) is available, the most recent valuation of the relevant crypto-asset by the reporting crypto-asset service provider shall be used; and
(D) if a value can still not be attributed, a reasonable estimate may be applied as a measure of last resort;
(iv) with respect to each relevant crypto-asset for which the Reporting crypto-asset service provider has relied on an alternative valuation method outlined in sub-clause (iii), the method shall be indicated in Form No. 167;
(v) the information reported shall also identify the fiat currency in which each amount is reported; and
(vi) the reporting crypto-asset service provider shall aggregate, that is, sum up, all transactions attributable to each reporting category for each type of relevant crypto-asset.
(9) The statement referred to in this rule shall be furnished to the Director of Income-tax (Intelligence and Criminal Investigation) or the Joint Director of Income-tax (Intelligence and Criminal Investigation) through online transmission of electronic data, to a server designated for this purpose under the digital signature, in accordance with the data structure specified in this regard by the Director General of Income-tax (Systems).
(10) For the purposes of sub-rule (9), "digital signature" means a digital signature issued by any Certifying Authority authorised to issue such certificates by the Controller of Certifying Authorities.
(11) (a) Every reporting crypto asset service provider shall communicate to the Director General of Income-tax (Systems), the name, designation and communication details of the designated director and the principal officer and obtain a number for enabling furnishing of statement referred to in sub-rules (5) and (6).
(b) The statement referred to in this rule shall be signed, verified and furnished by the designated director of the reporting crypto-asset service provider on the basis of information available with the reporting crypto-asset service provider, but, where the reporting crypto-asset service provider is a non-resident, such statement may be signed, verified and furnished by a person who holds a valid power of attorney from such designated director.
(12) For the purposes of sub-rule (11),––
(a) "designated director" means a person designated by the reporting crypto-asset service provider to ensure overall compliance with the obligations imposed under section 509 and the rules made thereunder and includes—
(i) the Managing Director or a whole-time Director, as defined in the Companies Act, 2013 (18 of 2013), duly authorised by the Board of Directors if the reporting crypto-asset service provider is a company; or
(ii) the managing partner, if the reporting crypto-asset service provider is a partnership firm; or
(iii) the proprietor, if the reporting crypto-asset service provider is a proprietorship concern; or
(iv) the managing trustee, if the reporting crypto-asset service provider is a trust; or
(v) a person or individual, as the case may be, who controls and manages the affairs of the reporting crypto-asset service provider, if the reporting crypto-asset service provider is an association of persons or a body of individuals, or any other person; and
(b) "principal officer" means an officer designated by the reporting crypto-asset service provider;

Rule breakdown

What is reported: Rule 243(1) to (4)

Identity: name, address, country or territory of residence, TIN and, for individuals, date and place of birth of each reportable user. Where there is more than one country of residence, all of them and all TINs identified are reported.

For entities with controlling persons who are reportable persons: the entity's details, each reportable person's details, and the role by which each one is a controlling person.

The provider's own name, address and Permanent Account Number.

For each type of relevant crypto-asset: acquisitions and disposals against fiat currency (aggregate gross amount, units and number of transactions); acquisitions and disposals against other relevant crypto-assets (aggregate fair market value, units and number); reportable retail payment transactions; transfers to and by the reportable user, sub-divided by transfer type; and transfers to wallet addresses not known to be associated with a virtual asset service provider or financial institution.

A TIN need not be reported where the country or territory does not issue one, or its domestic law does not require it to be collected. Place of birth need not be reported unless the provider is otherwise required to obtain and report it under domestic law. The fiat currency of each amount must be identified.

Form No. 167, nil statement and due date: Rule 243(5) to (7)

The statement under section 509(1) is furnished for each crypto-asset user or controlling person identified as a reportable user or reportable person.

If due diligence under Rule 244 identifies no such user or person, a nil statement is furnished.

Both are furnished in Form No. 167 by 31 May of the calendar year following the year to which the information relates.

How amounts and values are worked out: Rule 243(8)

Fiat amounts paid or received are reported net of transaction fees, in Indian Rupee. Other fiat currencies are converted at the time of each transaction at the telegraphic transfer buying rate on the transaction date.

Crypto-to-crypto acquisitions and disposals are reported at fair market value in Indian Rupee, net of transaction fees, using the provider's own crypto-asset to Indian Rupee trading pairs. For a difficult-to-value asset, the value of the asset it was exchanged for is used.

For retail payments and transfers, values come from the provider's trading pairs. Where there is no such reference value, the order is: internal book value, a third-party price aggregator whose method is reasonably reliable, the provider's most recent valuation, and finally a reasonable estimate as a last resort. Any alternative method used must be indicated in Form No. 167.

If the provider does not have actual knowledge of the fiat consideration, or of the crypto-asset acquired or disposed, the transaction is reported as a transfer to or by the user. Transactions are summed for each reporting category.

External wallet addresses associated with transfers must be kept for not less than seven years, but need not be reported.

Filing and signature: Rule 243(9) to (12)

The statement is furnished to the Director of Income-tax (Intelligence and Criminal Investigation) or the Joint Director, online under a digital signature, in the data structure specified by the Director General of Income-tax (Systems).

The provider must give the Director General of Income-tax (Systems) the name, designation and communication details of its designated director and principal officer, and obtain a number for furnishing the statement.

The designated director signs, verifies and furnishes the statement. For a non-resident provider, a person holding a valid power of attorney from the designated director may do so. Sub-rule (12) lists who the designated director includes for a company, firm, proprietorship, trust and other persons.

Printed as in the gazette

Sub-rule (1) refers to "the obligations of the reporting crypto-asset service provider under section 242 and due diligence procedures under section 244". The provisions with those numbers in these Rules are Rules 242 and 244. The text is reproduced exactly as printed.

Sub-rule (1)(e)(ix) uses the phrase "reportable crypto-asset user", and sub-rule (11)(a) writes "crypto asset" without a hyphen. Both are reproduced as printed.

Key takeaways

From calendar year 2026

Applies to each relevant calendar year starting on or after 1 January 2026.

Form No. 167 by 31 May

Due by 31 May of the following calendar year; a nil statement is needed if no reportable user is found.

Indian Rupee, net of fees

Amounts and fair market values are reported in Indian Rupee, net of transaction fees.

Seven-year wallet record

External wallet addresses are kept for at least seven years but not reported.

Practical checklist

Communicate the designated director and principal officer details to the Director General of Income-tax (Systems) and obtain the number before the first filing.
Keep transaction-level Indian Rupee values, net of fees, so each reporting category can be summed for each type of relevant crypto-asset.
Record which valuation method was used whenever the provider's own trading pairs were not available, and indicate it in Form No. 167.

Avoid

Do not skip the filing because no reportable user was found; a nil statement is required.
Do not discard external wallet address records before seven years.

FAQs

When is Form No. 167 due?

By 31 May of the calendar year following the year to which the information relates (Rule 243(7)).

Must a provider file if it has no reportable users?

Yes. Where due diligence under Rule 244 identifies no reportable user or reportable person, a nil statement must be furnished (Rule 243(6)).

Which exchange rate is used for foreign fiat currency?

The telegraphic transfer buying rate of that currency on the date of the relevant transaction (Rule 243(8)(a)(iii)(B)), as defined in Rule 241(17).

Are wallet addresses reported?

No. They must be collected and kept for not less than seven years, but reporting them is not required (Rule 243(8)(d)(ii) and (iii)).

Who signs the statement?

The designated director of the provider. For a non-resident provider, a person with a valid power of attorney from the designated director may sign (Rule 243(11)(b)).

Glossary

Form No. 167: The form in which the statement, or nil statement, of relevant transactions is furnished (Rule 243(7)).
Designated director: The person designated by the provider to ensure overall compliance with section 509 and the rules made under it (Rule 243(12)(a)).
Principal officer: An officer designated by the reporting crypto-asset service provider (Rule 243(12)(b)).
Digital signature: A digital signature issued by any Certifying Authority authorised by the Controller of Certifying Authorities (Rule 243(10)).

Official sources

Official notified Income-tax Rules, 2026 — Notification 22/2026