Form 121: Declaration for No TDS (replaces Form 15G and 15H)
Declare to your bank or payer that the tax on your estimated total income for the Tax Year is nil, so that it does not deduct TDS.
Law version: Tax Year 2026-27 onwards (Income-tax Act, 2025). Checked on 26 Sep 2026.
What it is
From 1 April 2026, the Income-tax Act, 2025 and the Income-tax Rules, 2026 replace Forms 15G and 15H with a single Form 121, under Section 393(6) read with Rule 211. Any eligible person, whatever their age, declares that the tax on their estimated total income for the Tax Year will be nil. Part A is filled in by the declarant; Part B is completed by the payer, which allots a unique identification number. The template prepares Part A with the eligibility details.
When it is used
- Interest on fixed deposits, recurring deposits or other deposits from Tax Year 2026-27.
- Dividend, rent or other income where the payer deducts TDS.
- At the start of each Tax Year, or when opening a new deposit.
What the template covers
- Name, PAN, status, age, e-mail and contact number
- Tax Year and nature of income
- Estimated income covered by this declaration
- Earlier Form 121 filed in the year and income covered
- Estimated total income and tax regime
- Payer details, account numbers, place and date
Details you will need
The generator asks for the following. Fields marked with an asterisk in the form are required; the rest can be left blank and filled in later in Word.
Declarant (Part A)
Name; Address; PAN; Status; If individual: age 60 years or more?; Email; Contact number
Income (Part A)
Tax Year; Nature of income; Estimated income for which this declaration is made (₹); Number of Form 121 filed earlier in the Tax Year; Income covered by those earlier Form 121 (₹); Estimated total income of the Tax Year (₹); Tax regime (for the eligibility check only)
Payer
Payer name (bank / company); Payer address; Account / folio / deposit numbers
Declaration
Place; Date
Stamp duty, registration and filing
The declaration can be made only where the tax on estimated total income is nil. A false declaration is an offence. Where the bank or payer provides its own copy of Form 121, or an online facility, use that. The payer reports declarations received in its TDS statements. Check the current form on incometax.gov.in.
Form 121 is for income paid or credited from 1 April 2026. Part A is filled by you; Part B is completed by the payer, who allots a Unique Identification Number (UIN). Where your bank or payer provides its own copy of Form 121, use that copy.
Generate the Form 121 — Declaration for No TDS (replaces 15G / 15H)
Fill in the form and download the draft as a Word file. It is a general template, not legal or professional advice; have it reviewed for your facts before you sign or rely on it.
Need this checked against your facts, or the registration or filing that follows (e.g. TDS returns, ITR)? Contact SKAG and Associates
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Frequently asked questions
Who can submit Form 121?
A resident individual or other eligible person whose tax on estimated total income for the Tax Year is nil. It replaces both 15G and 15H.
Do senior citizens still use Form 15H?
Not for income from 1 April 2026. Form 121 is used by all ages; the form asks whether the declarant is 60 or older.
Is the tax regime relevant to Form 121?
Yes. The nil-tax check depends on the regime you choose, so the template records it for the eligibility check.
This page gives general information for reference only. Laws, stamp duty rates and filing requirements change and differ between States, so confirm the current position for your case. Related: all document templates · free tax calculators · compliance calendar and guides.