Form No. 1 – Frequently Asked Questions

Form of application under Rule 4 of the Income-tax Rules, 2026

Name of form as per I.T. Rules, 1962	Form 3BB	Name of form as per I.T. Rules, 2026	Form No. 1
Corresponding section of I.T. Act, 1961	43(5)	Corresponding section of I.T. Act, 2025	66(33)
Corresponding Rule of I.T. Rules, 1962	6DDA	Corresponding Rule of I.T. Rules, 2026	Rule 4

1. What is Form No. 1?

Ans: This form is a monthly Statement to be furnished by a stock exchange in respect of transactions in which client codes have been modified after registering in the system.

2: Who should file Form No. 1?

Ans: It has to be filed by a stock exchange within the meaning of section 2(92) of IT Act, 2025.

3: Is Form No. 1 mandatory?

Ans: Yes. It has to be filed by stock exchange in respect of transactions (for both cash and derivative markets) in which client codes have been modified after registering in the system.

4: What is the time limit for filing Form No. 1?

Ans: Form No. 1 must be filed within 15 days from the last day of each month to which such statement relates.

5: How many times can Form No. 1 be filed in a year?

Ans: Form No. 1 is event-based and has to be filed monthly in respect of transactions in which client codes have been modified after registering in the system.

6: Can I edit Form No. 1 after submission?

Ans: No. Once Form No. 1 is submitted and acknowledgment is generated, it cannot be edited. Ensure all details are correct before submission.

7: What if I do not have a PAN?

Ans: Form No. 1 cannot be submitted without a valid PAN.

8: Can Form No. 1 be filed offline?

Ans: No. Form No. 1 can only be submitted online through the Income Tax e-Filing portal

Stock exchange reporting rules require monthly filing of client code modification statements through the e-filing portal. Form No. 1 is a mandatory monthly statement to be furnished by a stock exchange for transactions in which client codes have been modified after registration in the system. It applies to both cash and derivative markets, must be filed within 15 days from the end of each relevant month, and is submitted only online through the Income Tax e-Filing portal. Once filed and acknowledged, it cannot be edited, and submission requires a valid PAN.