Form 165 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Form 165 is the statement through which banks, issuers, registrars, insurers and others report specified financial transactions to the tax department. It matters to taxpayers because it feeds the information the department holds about them. This article describes it Part by Part as printed, as per the Income-tax Rules, 2026 (G.S.R. 198(E), notified on 20 March 2026), read with the amending notifications issued up to 22 September 2026. Later notifications should be checked.
Rule 237(1) says the statement of financial transaction required under section 508(1) is furnished in Form 165 for all the transactions listed in the Table of rule 237(2) in a financial year. Rule 237(5) fixes the time: on or before the 31st May immediately following the financial year in which the transaction is registered or recorded. The form has Part A (statement details), Part B (person-based reporting), Part C (bank or post office account-based reporting), Part D (immovable property and stamp paper) and a Verification by the designated director.
The rule and the section
Section 508 of the Income-tax Act, 2025 deals with the statement of financial transaction or reportable account; see section 508. Rule 237 is the rule; the transactions that must be reported, their values and the class of reporting person are in the Table of rule 237(2), which this article does not reproduce. Our post on rule 237 covers the Table.
Other points in rule 237:
- Aggregation (sub-rule 3). The reporting person takes into account all accounts and transactions of the same nature of a person in the financial year, attributes the entire value to every joint holder, and, for the cash deposit or withdrawal item of the first row, applies the limit separately to deposits and withdrawals. The rule excludes some classes of reporting person from this aggregation.
- Furnishing (sub-rule 4). The return goes to the Director of Income-tax (Intelligence and Criminal Investigation) or the Joint Director, through online transmission under the digital signature of the person in sub-rule (8) and in the data structure specified by the Principal Director General of Income-tax (Systems). For a Post Master General, Registrar or Inspector General, a computer readable medium with a paper verification may be used.
- Pre-filling statements (sub-rule 6). A separate statement of capital gains on listed securities and mutual fund units, dividends and interest, in a Form, frequency and manner specified by the Principal Director General of Income-tax (Systems) or the Director General with the approval of the Board; that Form is not in the text consulted.
- Registration and conduct (sub-rule 7). Each reporting person communicates the name, designation, address and telephone number of the Designated Director and the Principal Officer and obtains a registration number.
- Who signs (sub-rule 8). The Designated Director in all cases, except that for a non-resident reporting person a person holding a valid power of attorney from the Designated Director signs.
See also rule 245 and the annual information statement, which is where the department presents information to taxpayers.
If you want to understand what third parties have reported about you and reconcile it before filing, our AIS and TIS reconciliation team can help.
Part A: statement details
Part A is headed "This information should be provided for each Statement submitted together". It has three blocks.
| Block | Items |
|---|---|
| A.1 Reporting entity details | A.1.1 reporting entity name; A.1.2 reporting entity identification number |
| A.2 Statement details | A.2.1 statement type (2-character code); A.2.2 statement number; A.2.3 original statement identity; A.2.4 reason for correction (1-character code); A.2.5 statement date; A.2.6 reporting period; A.2.7 report types (2-character code); A.2.8 number of reports |
| A.3 Principal officer details | Name, designation, address, city or town, postal code, state code, country code, telephone, mobile, e-mail (A.3.1 to A.3.10) |
Part B: person-based reporting
Part B, "Report details for person based reporting", has one report for each person reported.
| Block | Items |
|---|---|
| B.1 Report number | Report serial number; original report serial number |
| B.2 Person details for aggregated financial transactions | B.2.1, for a person with a PAN: name, person type, father's name for an individual, PAN, address, postal code, state code and country code. B.2.2, for a person with no PAN: name, person type, father's name, Aadhaar number for an individual, the acknowledgement of the Form 97, identification type and number, date of birth or incorporation, nationality or country of incorporation, business or occupation, address and address type, city or town, postal code, state code, country code, mobile or telephone number, other contact number, e-mail. B.2.3: the number of persons if the transaction is in joint names, with their names and PANs (repeated as required) |
| B.3 Financial transaction summary | Product type; aggregate gross amount received from the person; aggregate gross amount received from the person in cash; aggregate gross amount paid to the person |
| B.4 Financial transaction details (for each distinctive product) | Product identifier; last date of transaction; aggregate gross amount received; amount received in cash; amount paid; whether a time deposit was created by auto-sweep; the parent account number related to a time deposit created by auto-sweep |
Part C: bank or post office account-based reporting
Part C is "Report details for bank/post office account (account based reporting)", provided for each account.
| Block | Items |
|---|---|
| C.1 Report number | Report serial number; original report serial number |
| C.2 Account details | Account type; account number; account holder name; account status; branch reference number, name, address, city or town, postal code, state code, country code, telephone, mobile, e-mail |
| C.3 Account summary | Aggregate gross amount credited to the account in cash; aggregate gross amount debited in cash |
| C.4 Person details, for each person related to the account | C.4.1, for a person with a PAN: account relationship (1-character code), name, person type, father's name, PAN, address, postal code, state code, country code. C.4.2, for a person with no PAN: the same set as B.2.2, with the Aadhaar number and Form 97 acknowledgement |
Part D: immovable property and stamp paper reporting
Part D, "Report details for immovable property transactions/stamp paper based reporting", is provided for each transaction.
| Block | Items |
|---|---|
| D.1 Report number | Report serial number; original report serial number |
| D.2 Transaction details | Transaction date and identity; transaction type; transaction amount; cash in the transaction amount; property type; whether the property is within municipal limits; property address, city or town, postal code, state code and country code; stamp valuation of the property for determining stamp duty; value of stamp paper (applicable for Stock Holding Corporation of India Limited) |
| D.3 Person details, for each person related to the transaction | D.3.1, for a person with a PAN: transaction relation (2-character code), transaction amount related to the person, name, person type, father's name, PAN, address, postal code, state code and country code. D.3.2, for a person with no PAN: name, person type, father's name, Aadhaar number, Form 97 acknowledgement (not applicable for the stamp paper item), identification type and number, date of birth or incorporation, nationality, address, city or town, postal code, state code, country code, contact numbers and e-mail |
Verification
The designated director, giving name and PAN, in the capacity of designated director of the named reporting entity, certifies that all the particulars furnished above are correct and complete, over place, date, signature and name.
Reading the codes
Many items say "Insert 1 character code" or "Insert 2 character code". The form prints no table of those codes, and none is in the text consulted; they are specified elsewhere. The spacing and numbering of a few items (for example, two items numbered B.4.2 and a repeated sub-number in Part D) are as printed.
Need help understanding what has been reported about you?
The information reported through this statement shows up in what the department sees about you, and a mismatch with your return can lead to queries. If you want help reconciling it, speak to our AIS and TIS reconciliation specialists.
Key takeaways
- Form 165 is the annual statement of specified financial transactions under section 508(1).
- Due on or before 31 May after the financial year of the transaction (rule 237(5)).
- Parts B, C and D report by person, by account and by property or stamp paper.
- The designated director signs; a non-resident reporting person uses a power of attorney holder.
- The transactions and values are in the Table in rule 237(2), not in the form.
Read next
- Rule 237: statement of financial transaction in Form 165
- Rule 245: annual information statement
- Form 145: information for payments to non-residents
- Form 146: accountant's certificate for payments to non-residents
- Section 508 of the Income-tax Act, 2025
Disclaimer: Based on the Income-tax Rules, 2026 (G.S.R. 198(E), notified on 20 March 2026), read with the amending notifications issued up to 22 September 2026, as consulted on 2 October 2026. It explains the words of the rules and forms only; later notifications, the forms and utilities on the e-filing portal, circulars and the way the tax authorities apply these provisions should be checked. This article is general information, not legal advice; check the official text before acting.