Where do I get Form 121?

From the Income-tax Department (Form No. 121, earlier 15G & 15H). Submit it to each payer such as your bank, company or EPF office.

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Form 121: the New TDS Self-Declaration that Replaces 15G & 15H (FY 2026-27)

Q: Is Form 15G/15H still valid?

For income received up to 31 March 2026, yes. From 1 April 2026 (Tax Year 2026-27), both Form 15G and Form 15H are replaced by a single Form 121.

Q: Who can submit Form 121?

Any resident taxpayer of any age whose estimated total tax for the year is nil. The earlier 60-year split between 15G and 15H is removed.

Q: Under which section is Form 121?

Form 121 is a declaration under Section 393(6) of the Income-tax Act 2025, read with the Income-tax Rules 2026.

2026-06-29 · 5 min read · by a CA firm

If you have been filing Form 15G or Form 15H to stop TDS on interest, there is one change to note for FY 2026-27: both forms are gone. From 1 April 2026, the Income-tax Act 2025 replaces them with a single, age-neutral declaration — Form 121.

What changed

Forms 15G (for those under 60) and 15H (for those 60 and above) have been merged into one Form 121. It is a declaration under Section 393(6) of the Income-tax Act 2025, read with the Income-tax Rules 2026, that lets a payer not deduct TDS where the declarant’s estimated tax liability for the year is nil.

Who can file

Any resident taxpayer, of any age, whose estimated total tax for the year is nil. The 60-year split that separated 15G from 15H is removed — one form now covers everyone. It is typically used for bank, post-office and co-operative interest, EPF withdrawals and other specified incomes.

When it applies from

Form 121 applies from Tax Year 2026-27 onward — that is, declarations for income arising on or after 1 April 2026. For interest and other income received up to 31 March 2026, the old Form 15G / 15H still governs. Use the right form for the right period.

How it works in practice

Submit Form 121 to each payer (your bank, company or EPF office) at the start of the year. The payer records the declaration and does not deduct TDS on the covered income while the declaration holds good. If you have deposits with three banks, you file with all three — a declaration with one payer does not cover the others.

Common mistakes to avoid

Three errors cause most problems: filing Form 121 when your total income actually exceeds the basic exemption (the declaration is only valid where estimated tax is nil); not filing with every payer, so TDS still gets deducted where you missed one; and not revising the declaration when your income changes during the year. A wrong declaration can attract penalty, so file it only when you are genuinely below the tax threshold.

Frequently asked questions

Is Form 15G/15H still valid? For income up to 31 March 2026, yes. From 1 April 2026, both are replaced by Form 121.

Who can submit Form 121? Any resident taxpayer of any age whose estimated tax for the year is nil.

Under which section is Form 121? Section 393(6) of the Income-tax Act 2025, with the Income-tax Rules 2026.

Where do I get the form? From the Income-tax Department — Form No. 121 (earlier 15G & 15H).

For the interest sections this affects, see the 194A guide (interest other than securities) and 193 guide (interest on securities). Free, ready-to-use TDS templates are on the Downloads page.

This article is general information for FY 2026-27, not advice for your specific case. Verify the final form-field details against the official notification, or talk to a CA.