06 Tool · Money & Rules
Can I file Form 121?
Form 121 replaced Forms 15G and 15H from the 2026-27 tax year. It's a declaration that your tax for the year is nil, so banks and other payers don't deduct TDS. Answer a few questions to see whether it applies to you.
Based on the Income Tax Department's Form 121 FAQs. This checker follows the eligibility rules stated there. It isn't tax advice, and it can't work out your income for you. Form 121 is a statutory declaration, so only sign it if it's true.
Result
Answer the questions
How to submit (as per the FAQs)
- Submit Part A of Form 121 to each payer separately: each bank, post office, company and so on.
- Do it before the income is credited, ideally at the start of the tax year.
- Submit online through the payer's portal (preferred) or on paper.
- Keep a valid, operative PAN ready, plus proof of age if you're 60 or above.
- The payer gives your declaration a 26-character UIN and reports it to the tax department.
Rules from the Income Tax Department's FAQs · not tax advice
02 What it covers
Incomes you can declare on Form 121
- Interest from banks, co-operative banks and post office schemes, and interest from other specified payers
- Interest on securities
- Dividends from a domestic company
- Income from mutual fund units
- Rent from a specified person
- Insurance commission, and payments under a life insurance policy
- Withdrawal of an accumulated EPF balance
Official sources: the Form 121 FAQs and the Form 121 guidance note from the Income Tax Department. Read our guide: Form 15G/15H is gone: how to file Form 121 so your bank stops cutting TDS.