Form 121 (formerly 15G/15H) is a self-declaration to avoid TDS on interest, dividends, or EPF withdrawals, submitted directly to the payer (e.g., bank, EPFO). Fill Part A with PAN, estimated income, and tax details. Submit via the payer's online portal or download from the Income Tax Department website. [1, 2]
Key Steps to Fill Form 121 (2026-27)
Obtain the Form: Download Form 121 from the Income Tax website. https://www.incometaxindia.gov.in
Fill Part A (Applicant Details):
Name & PAN: Enter valid PAN (mandatory).
Status/Address: Residential status, address, email, and mobile number.
Nature of Income: Specify (e.g., interest, dividend) and total estimated income for the year.
ITR Details: As a new requirement, provide ITR acknowledgement numbers for the last 2 years.
Ensure Eligibility: Confirm your total estimated income does not exceed the maximum exemption limit.
Submit to Payer: Submit the form to your bank, company, or financial institution to prevent TDS. [1, 2, 3, 4, 5]
https://www.incometaxindia.gov.in
Documents Required
Valid PAN (mandatory).
Aadhaar card.
Estimated income/investment details (Form 16/salary slips).
Bank statements/interest certificates. [1, 2]
https://www.incometaxindia.gov.in
Note: Submission of this form does not make income tax-free, it only prevents TDS deduction if total taxable income is below the threshold. [1]
