Form 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 No. 167 is the statement in which a reporting crypto-asset service provider tells the tax department about the crypto-asset transactions of its reportable users and controlling persons. Part A describes the provider and the statement, Part B identifies each user, and Part C totals the transactions by crypto-asset and by category. This guide explains the form as printed in 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.
Under rule 243, the statement is furnished in respect of each crypto-asset user or controlling person identified as a reportable user or reportable person; where none is identified, a nil statement is furnished. It is in Form No. 167 "by the 31st of May of the calendar year following the year to which the information relates" (sub-rule (7)), sent by online transmission under digital signature (sub-rule (9)), and signed, verified and furnished by the designated director (sub-rule (11)).
The section and the rule
Section 509 of the Income-tax Act, 2025 requires a prescribed reporting entity, in respect of a crypto-asset, to furnish information on a transaction of the crypto-asset in a statement, for the prescribed period, within the prescribed time, in the prescribed form and manner and to the prescribed income-tax authority. If the authority considers the statement defective, it may intimate the defect and allow thirty days (or longer if allowed) to rectify it (sub-section (2)); where a statement is not furnished in time, a notice may require it within a period not exceeding thirty days (sub-section (3)); and a person who finds an inaccuracy must inform the authority within ten days (sub-section (4)). The Rules may prescribe registration, the nature of information and the due diligence to identify users (sub-section (5)). See sections 509 and 510.
Rule 243 is explained in rules 242 to 244 on crypto-asset reporting. The corrigendum to the Rules corrects "section 242" and "section 244" in rule 243 to "rule 242" and "rule 244", and they are read that way. This article takes only the sub-rules that bear on the form: sub-rules (5) to (7), on who is reported, the nil statement and the date; and sub-rules (9) to (11), on the recipient, the digital signature and the designated director. The due diligence procedure is in rule 244 and is not explained here. Sub-rule (4) says the information reported must identify the fiat currency in which each amount is reported, and sub-rule (3) says place of birth need not be reported unless the provider is otherwise required to obtain and report it under domestic law.
If you hold or trade crypto-assets and want to understand how reported data lines up with your own records, our AIS and TIS reconciliation service can help you compare it with your returns.
Part A: statement details
| Block | What it asks |
|---|---|
| A.1 Reporting crypto-asset service provider (RCASP) details | Type (entity "LE" or individual "IN"); name; address and legal character of the address (codes 301 to 305: residential or business, residential, business, registered office, unspecified); country of residence as per tax laws; mobile, telephone and email; date of incorporation or birth; place of birth; nationality; ITDREIN; Tax Identification Number, issuing country and reason if not available; for an entity, any other identification or registration number with its type (LEI, EIN, BRN or OTH); reporting obligation nexus (codes 901 to 905: tax resident of India, incorporation under Indian law, management in India, place of business in India, branch in India); and any nexus with a partner jurisdiction |
| A.2 Statement details | Statement type (NB new, CB correction, DB deletion, ND no data to report); statement number; original statement id; reason for correction (codes A, B, C, N and Z); statement date; reporting period; number of reports in Part B |
| A.3 Principal officer details | Name, designation, address, mobile, telephone and email |
Note 6 says the partner-jurisdiction fields are filled if the provider has an equivalent or stronger nexus in another country or territory where reporting under the Crypto-Asset Reporting Framework will take place.
Part B: report details
Part B is provided for each reportable user or reportable person.
| Block | What it asks |
|---|---|
| B.1 Crypto-asset user details | Type of user: entity (LE) or individual (IN) |
| B.2 Individual crypto-asset user details | Sub-type (new user or pre-existing user); the unique user id allotted by the provider; name, address, birth, nationality, residence, Tax Identification Number and similar particulars |
| B.3 Entity crypto-asset user details | The corresponding details for an entity user, including place of incorporation (Note 10) |
| B.4 Controlling person details | To be provided for each controlling person of an entity; includes a self-certification field; repeated as required |
Part C: transaction details
Part C is provided for each relevant transaction of each relevant crypto-asset. C.1 gives the name of the crypto-asset, in line with the Digital Token Identifier where feasible (Note 11), the 9-character identifier, and another token description if the identifier is not known. C.2 then covers the categories below. Amounts are in Indian rupees, with a currency code and a number of units reported up to the sixth decimal place where relevant (Notes 13 to 26).
| Category | What it asks |
|---|---|
| C.2.1 Crypto to crypto in | Exchange type (staking, crypto loan, wrapping or collateral, codes 401 to 404); number of transactions (acquisitions against other relevant crypto-assets); amount; currency code; units |
| C.2.2 Crypto to crypto out | The same for disposals against other crypto-assets |
| C.2.3 Crypto to fiat in | The same for acquisitions against fiat currency |
| C.2.4 Crypto to fiat out | The same for disposals against fiat currency |
| C.2.5 Crypto transfer in | Transfer type (airdrop, staking income, mining income, crypto loan, transfer from another provider, sale of goods or services, collateral, other, unknown, codes 501 to 509); number of transactions; amount; currency; units; alternative valuation method (book value, third-party value, recent provider valuation or reasonable estimate by the provider, codes 1001 to 1004) |
| C.2.6 Crypto transfer out | The corresponding outbound transfers, with the same alternative valuation options |
| C.2.7 Transfer wallet | Amount, currency, units transferred to wallet addresses not known by the provider to be associated with a virtual asset service provider or financial institution, and the alternative valuation method |
| C.2.8 Reportable retail payment transactions | Number of transactions, amount, currency code and units |
Verification and Notes
The verification is by the designated director: he or she, giving PAN and the name of the provider, certifies that all the particulars furnished are correct and complete. Rule 243(12) defines the designated director (for a company, the managing director or whole-time director duly authorised by the Board; for a partnership firm, the managing partner; and so on), and the principal officer as an officer designated by the provider. Where the provider is a non-resident, a person holding a valid power of attorney from the designated director may sign, verify and furnish the statement.
The Notes cover the format of names (title, first, middle and last names, prefixes and suffixes, and name types), the address elements, the place of birth, the treatment of a missing Tax Identification Number, the statement number and original statement id, the reporting period date, and the counting of transactions and units for each category. The state code is to be given as per the Motor Vehicles Act, 1988 for an Indian address, or "Not in India" for an address abroad.
An example
Cobalt Digital Exchange Private Limited is a reporting crypto-asset service provider. For a calendar year, its due diligence under rule 244 identifies two reportable users, an individual and a company with one controlling person. It prepares one Form No. 167: Part A with its details, "NB" as statement type and the number of reports; Part B reports for each user and the controlling person; and Part C with totals by crypto-asset, for example crypto to fiat in and out, and transfers in and out. Its designated director signs and verifies, and it is transmitted under digital signature by the 31st of May of the next calendar year. Had no user been reportable, it would furnish a nil statement.
Need help reconciling crypto-asset information?
Information reported by providers can reach the tax department and appear against your records. Our AIS and TIS reconciliation team can help you compare reported crypto-asset activity with your books and returns.
Key takeaways
- Form No. 167 is the statement under section 509 by a reporting crypto-asset service provider, furnished under rule 243.
- It covers each reportable user or controlling person; a nil statement is furnished where none is identified.
- It is due by the 31st of May of the calendar year following the year to which the information relates.
- Part A is the provider and statement; Part B the users and controlling persons; Part C transactions by crypto-asset and category.
- The designated director signs and verifies; it is sent by online transmission under digital signature.
Read next
- Rules 242 to 244: crypto-asset reporting and Form No. 167
- Form No. 162: annual statement of a liaison office of a non-resident
- Form No. 166: Statement of Reportable Account
- Form No. 141: challan-cum-statement for rent, property, contractor and virtual digital asset
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 4 October 2026. It explains the words of the forms and rules 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.