I have no other income except Interest earned on deposits made in a Bank. The Approximate Interest will be Rs.8.00 Lacs for the FY 2026-2027 (hence my total income for the year will be Rs.8.00 Lacs only). Can i Submit form 121 to bank for not to deduct TDS as my income would not attract any tax under new tax regime, As In new tax regime tax is nill for income upto 12,00,000.00 with tax rebate.
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Form 121 eligibility for non deduction of TDS for Interest Payments
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