Form 121 (earlier Form 15G and 15H)
Also called Declaration for no TDS on interest
A declaration you give your bank so it does not deduct TDS on interest, when your tax for the year will be nil.
Forms 15G and 15H were the declarations people used to stop TDS on interest. From 1 April 2026, one form, Form 121, does both jobs. It is a declaration about your own tax, so only file it when your tax for the year really will be nil.
Read the full walk-through in TDS on FD interest: Form 121 replaced 15G and 15H.
Questions people ask
What replaced Form 15G and Form 15H?
From 1 April 2026, under the Income-tax Rules, 2026, both were replaced by a single declaration, Form 121. It does the same job: it tells the payer, such as your bank, not to deduct TDS because your tax for the year will be nil.
Who can file Form 121?
A resident individual of any age whose tax on estimated total income for the year will be nil, after deductions and rebate. If you are under 60, your income must also be below the basic exemption limit. If you are 60 or older, that extra income cap does not apply. You need a valid PAN, or the declaration is invalid.
What if my tax is nil but I cannot file Form 121?
Let the bank deduct TDS, then claim it back as a refund by filing your income tax return for that year. The deducted tax shows up in your Annual Information Statement on incometax.gov.in.
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