Form 121: The New No-TDS Form Replacing 15G and 15H

Form 121 replaces both Form 15G and 15H from 1 April 2026 (Tax Year 2026-27).

It is age-agnostic: one form for under-60s, seniors and HUFs alike.

Eligibility hinges on nil estimated tax liability, not just low income.

PAN is mandatory — no PAN means the declaration is void and TDS is deducted.

File it fresh every year, before interest is credited, with each bank separately.

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