Form 121 of income tax
This query is : Resolved
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P.Madhivadhanan
(Querist)
06 April 2026
A senior whose total income Rs.1000000 . His tax liability under income tax act after rebate for the financial year 2026-27 is NIL. Is he eligbile to file Form 121
06 April 2026
• Form 121 (Updated Return) cannot be filed when tax liability is NIL
• It is allowed only when additional tax is payable
• In this case → Not eligible
• It is allowed only when additional tax is payable
• In this case → Not eligible
P.Madhivadhanan
(Querist)
07 April 2026
I am talking about instead of 15G/15H new form 121 introduced for tax year 2026-27
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