Form 15G/15H is now Form 121 — what changed?

Question

tdsguru.in (CA firm) · Accepted Answer

From 1 April 2026 the two forms are merged into a single Form 121, usable by any resident of any age whose estimated tax for the year is nil. Forms 15G (under 60) and 15H (60 and above) have been merged into a single Form 121, a self-declaration under Section 393(6) of the Income-tax Act 2025 read with the Income-tax Rules 2026, effective 1 April 2026. The age distinction is removed — any resident whose estimated total tax for the year is nil can file Form 121 to receive specified income (such as interest) without TDS. For income up to 31 March 2026, the old 15G/15H still applies.