Forms › IFSC & Sovereign Wealth Fund (standalone) › Form 1 (IFSC Declaration)

Form 1 (IFSC Declaration) — Statement-cum-declaration by an IFSC unit to a payer

New form Compiled — pending CBDT Appendix III cross-check S · IFSC & Sovereign Wealth Fund (standalone)
New form — no earlier equivalent. Form 1 (IFSC Declaration) is introduced under the Income-tax Act, 2025.
New form numberForm 1 (IFSC Declaration)
Old form number— none (new form) —
Act 2025 referenceIFSC
CategoryS · IFSC & Sovereign Wealth Fund (standalone)
Applies fromTax Year 2026-27 (from 1 April 2026)

What is Form 1 (IFSC Declaration)?

Form 1 (IFSC Declaration) is the Income-tax Act, 2025 form titled “Statement-cum-declaration by an IFSC unit to a payer”. It is a new form introduced under the Income-tax Act, 2025 with no direct equivalent under the earlier law.

It falls under the IFSC & Sovereign Wealth Fund (standalone) category, and applies to Tax Year 2026-27 (AY 2026-27) onwards, i.e. from 1 April 2026.

A fuller plain-language explainer for Form 1 (IFSC Declaration), reviewed by our Chartered Accountants, is being added.

Transitional rule — which form applies?

⚠️ Which form applies depends on the tax year the compliance relates to, not the calendar date you file. Proceedings for tax years beginning before 1 April 2026 (assessments, appeals, TDS for transactions up to 31 March 2026, and Section 89 relief for those years) continue on the old forms.

Frequently asked questions

Is Form 1 (IFSC Declaration) a new form?

Form 1 (IFSC Declaration) is a new form introduced under the Income-tax Act, 2025 with no direct equivalent under the old law. Statement-cum-declaration by an IFSC unit to a payer.

From when does Form 1 (IFSC Declaration) apply?

It applies to Tax Year 2026-27 (AY 2026-27) onwards, i.e. from 1 April 2026. Compliance relating to earlier tax years continues on the old forms.

Related forms in this category

Form I (SWF)
Application for notification as a Sovereign Wealth Fund
Form 1 (Ship Leasing)
Statement-cum-declaration by a unit engaged in ship leasing...
Form 1 (Aircraft Leasing)
Statement-cum-declaration by a unit engaged in aircraft leas...
Not sure which form applies to your case?

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This directory is compiled from official CBDT / incometax.gov.in sources and reputable references, and is being reconciled against the Gazette-notified Income-tax Rules, 2026 (Appendix III). Forms marked “compiled” are pending that final cross-check. This is general information, not tax advice.