Form 121: Replacement for Form 15G & 15H | PDF

Form 121 – Official Self-Declaration Form Replacing Form 15G & 15H (No TDS on Eligible Income)

About This Form

Form 121 is the unified, official self-declaration form introduced under Section 393(6) of the Income-tax Act, 2025, read with Rule 211 of the Income-tax Rules, 2026. It replaces the earlier Form 15G (for individuals below 60 years and HUFs) and Form 15H (for senior citizens aged 60 years and above), merging both into a single, smarter form to reduce compliance burden.

You submit this form to your bank or financial institution to prevent Tax Deducted at Source (TDS) on incomes such as interest from fixed deposits, savings accounts, post office deposits, or other specified incomes — provided your total estimated income for the year falls below the taxable limit and your expected tax liability is nil.

This is an official form issued by the Income Tax Department of India. It is not a self-created template.

Who Should File Form 121

• Resident individuals below 60 years of age with nil tax liability
• Resident senior citizens (60 years and above) whose estimated total income is below the taxable limit
• Hindu Undivided Families (HUFs) and other specified eligible entities

Companies and Firms cannot file this form. Non-residents are not eligible.

Documents Required

• PAN of the declarant (mandatory)
• TAN of the paying institution (bank/financial entity)
• Proof of age (especially for senior citizens)
• Details of income/investment for which TDS exemption is sought
• Bank account details for interest-bearing instruments

Key Highlights

• Single consolidated form 121 replacing both Form 15G and Form 15H
• Valid for one Tax Year — must be submitted before income is credited or paid
• Payer (bank/institution) assigns a Unique Identification Number (UIN) for each declaration received
• Payer must file a monthly statement with the Income Tax Department by the 7th of the following month
• UIN must be quoted in the quarterly TDS return (Form 140)
• Smart form features: auto-population, real-time validations, dropdown fields, API integration for an easier filing experience
• Submission data reflects in Form 168/AIS, confirming linkage with your PAN

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