Under the draft Income-tax Rules 2026, if a person makes new fixed deposits of ₹10 lakh or more in one financial year, the bank or post office will inform the Income-tax Department about it.
This information will be shared through a financial transaction report.
However, this rule does not apply to fixed deposit renewals. If you are just renewing your old fixed deposit, it will not be reported under this limit.
What Will Be Reported Under Draft Income-Tax Rules 2026?
If you deposit a large amount of money in your bank, the bank may have to inform the Income-tax Department.
✅ Cash Deposit Rules
- If you deposit ₹10 lakh or more in one financial year in your bank accounts (except current account and fixed deposit), the bank must report it.
- This ₹10 lakh limit is for people who have a PAN card.
- If a person does not have a PAN card, the limit is ₹5 lakh.
✅ Fixed Deposit (FD) Rules
- If you make new fixed deposits of ₹10 lakh or more in one financial year, the bank must report it.
- But if you are just renewing your old FD, it will not be reported.
Is This a New Rule?
No, this is not completely new.
Even under the old Income-tax Rules 1962, banks had to report:
- Fixed deposits of ₹10 lakh or more in a financial year.
- Cash deposits of ₹10 lakh or more in a financial year (in certain accounts).
Important Note
These are draft rules right now. They are open for public feedback and may change before they officially start from April 1, 2026.