Form 121 submission

Applicability of Form 121 submission in following cases:

 

Individual resident beolw 60 years

Total income below 4 lakh 

Total income between 4 lakh and 12 lakhs 

 

Individual resident above 60 years 

 

Total income below 4 lakh 

Total income between 4 lakh and 12 lakhs 

Replies (6)
Quick Summary
Form 121 replaces Forms 15G/15H for non-deduction of TDS from FY 2026-27. It applies only when final tax liability is NIL-not purely based on income slabs. Below 60: income within exemption limit. Seniors: can apply even if income exceeds limit, if tax payable is zero.

Form 121 (u/s 197) is not based purely on income slabs. It is applicable only when TDS deduction is higher than actual tax liability. If income is below taxable limit, filing is not required. However, for income between ₹4–12 lakh (or any level), Form 121 can be filed if excess TDS is expected.

Form 121

Form 121 is the new declaration form under Section 393(6) of the Income-tax Act, 2025, effective from 1 April 2026. It replaces both Form 15G and Form 15H.

Eligibility by income category:

Individual resident below 60 years: Can submit Form 121 only if estimated total income is below ₹2,50,000 (old regime) and tax liability is nil

Individual resident 60+ (senior citizen): Gets a special relaxation under Section 393(6)  can submit Form 121 even if income slightly exceeds basic exemption, provided actual tax liability is nil

Key rule: If income exceeds basic exemption AND tax is payable  Form 121 cannot be submitted. Submitting it in that case is a false declaration under the Act.

For complete breakdown of eligibility, income types covered, UIN requirement, and payer obligations  I wrote a detailed guide here: smartgst.in/blog/form-121-income-tax

Happy to answer any specific queries.

 Amit Ranjan Maurya | SmartGST

Key Highlights Form 121

Single consolidated form 121 replacing both Form 15G and Form 15H

Valid for one Tax Year — must be submitted before income is credited or paid

Payer (bank/institution) assigns a Unique Identification Number (UIN) for each declaration received

Payer must file a monthly statement with the Income Tax Department by the 7th of the following month

UIN must be quoted in the quarterly TDS return (Form 140)

Smart form features: auto-population, real-time validations, dropdown fields, API integration for an easier filing experience

Submission data reflects in Form 168/AIS, confirming linkage with your PAN

Download Direct Official Form 121

Applicability of Self-Declaration for Non-Deduction of TDS (Income Tax)


Based on practical experience and current tax provisions, self-declaration for non-deduction of TDS is now governed by the unified Form 121 (which replaced Forms 15G and 15H). While it is a single consolidated form, eligibility still depends on residential status, age, and final tax liability, rather than fixed income slabs alone.

Resident Individual (Below 60 years)
✔ Can submit Form 121 only if:

Final tax liability is NIL, and

Total income does not exceed the basic exemption limit (₹4 Lakh under the new tax regime).

Senior Citizens (60 years or above)
✔ Can submit Form 121 if:

Final tax liability is NIL, even if income exceeds the basic exemption limit (due to rebates/deductions).

Important Note
Eligibility is strictly linked to a nil tax liability after deductions and rebates. Income level alone does not determine applicability. Submitting an incorrect declaration may lead to rejection or a tax demand, hence a detailed income evaluation is always recommended before filing.

Sir,

you have mentioned for

Resident Individuals below 60 years , can submit form 121 ONly if 

  1. Final Tax liability is NIL and 
  2. Total income does not exceed the basic exemption limit of 4Lakhs (new regime).

If total income does not exceed 4lakhs , there will be no tax anyway, then what is the meaning of the line Final Tax Liability is NIL.

Thanks,

Form 121 (Income Tax Act, 2025)

Applicable only if total tax liability is NIL (before rebate confusion) 

Below 60 years

  • Income < ₹4 lakh → ✅ Applicable
  • Income ₹4L – ₹12L → ❌ Not applicable

Above 60 years

  • Income < ₹4 lakh → ✅ Applicable
  • Income ₹4L – ₹12L → ❌ Not applicable

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