Insertion of new section 285BAA
Section 90 of the Finance Act, 2025 deals with insertion of new section 285BAA. Insertion of new section 285BAA. 90. After section 285BA of the Income-tax Act, the following section shall be inserted with effect from the 1st April, 2026, namely:— '285BAA. The Act was enacted on 16 Aug 2025.
Insertion of new section 285BAA.
90. After section 285BA of the Income-tax Act, the following section shall be inserted with effect from the 1st April, 2026, namely:—
'285BAA. Obligation to furnish information on transaction of crypto-asset.—(1) Any person, being a reporting entity, as prescribed, in respect of a crypto-asset, shall furnish information in respect of a transaction of such crypto-asset in a statement, for such period, within such time, in such form and manner and to such income-tax authority, as prescribed.
(2) Where the prescribed income-tax authority considers that the statement furnished under sub-section (1) is defective, he may intimate the defect to the person who has furnished such statement and give him an opportunity of rectifying the defect within thirty days from the date of such intimation or such further period as may be allowed, and if the defect is not rectified within such period, the provisions of this Act shall apply as if such person had furnished inaccurate information in the statement.
(3) Where a person who is required to furnish a statement under sub-section (1) has not furnished the same within the specified time, the prescribed income-tax authority may serve upon such person a notice requiring him to furnish such statement within a period not exceeding thirty days from the date of service of such notice and he shall furnish the statement within the time specified in the notice.
(4) If any person, having furnished a statement under sub-section (1), or in pursuance of a notice issued under sub-section (3), comes to know or discovers any inaccuracy in the information provided in the statement, he shall within ten days inform the prescribed income-tax authority, the inaccuracy in such statement and furnish the correct information in such manner as prescribed.
(5) The Central Government may, by rules prescribe—
(a) the persons referred to in sub-section (1) to be registered with the prescribed income-tax authority; (b) the nature of information and the manner in which such information shall be maintained by the persons referred to in clause (a); and (c) the due diligence to be carried out by the persons referred to in sub-section (1) for the purpose of identification of any crypto-asset user or owner. (6) In this section, "crypto-asset" shall have the meaning assigned to it in sub-clause (d) of clause (47A) of section 2.'.
Section 90, The Finance Act, 2025 (Act 7 of 2025).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 90
What does Section 90 of the Finance Act deal with?
Section 90 of the Finance Act is headed "Insertion of new section 285BAA". Insertion of new section 285BAA. 90. After section 285BA of the Income-tax Act, the following section shall be inserted with effect from the 1st April, 2026, namely:— '285BAA.
How do I find court cases under Section 90 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2025 90, section 90 Finance Act 2025, section 90 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 90 of the Finance Act, and has it changed?
Its own text turns on section 2 (Income-tax), Income-tax Act 285BA (Obligation to furnish statement of financial transaction or reportable account), so none of them can safely be read on its own.
When was Section 90 of the Finance Act enacted?
Section 90 of the Finance Act, cited as Finance Act 2025 90, was enacted on 16 Aug 2025 as Act 7 of 2025. It is in force as at the date shown on this page.
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