Form 12BB Generator (India): Investment Declaration
Your investment declaration for salary TDS, the proofs to attach and the tax it saves.
Tax Year 2026-27 Form No. 124 · rule 205 · Income-tax Act, 2025 · Sources
Proofs to attach
Make monthly rent receipts with the rent receipt generator.
Your Form No. 124
Rules used and official sources
Tax rules and rates change. This calculator follows the rules described on this page and may not cover every situation. Check the official source or a qualified tax professional before filing or invoicing.
About the Form 12BB Generator (India): Investment Declaration
Your employer deducts TDS from your salary on what it knows about your claims. To count your house rent, leave travel, home-loan interest and old-regime deductions, you give it a statement with the evidence: Form No. 124 under rule 205 of the Income-tax Rules, 2026 for Tax Year 2026-27 (section 392(5)(b) of the Income-tax Act, 2025), and Form 12BB for FY 2025-26.
Enter your claims — each landlord with the rent, PAN and (for Form No. 124) Aadhaar and relationship, the LTC, each lender with the interest and PAN, and your deductions such as PF, PPF, ELSS, NPS, health insurance, education-loan interest and donations. You get the filled form in the official layout, ready to print or download as a PDF, the proofs to attach, warnings for a missing landlord PAN or a limit you have crossed, and the tax the claims save in the old regime — compared with the default new regime, where most of them do not count. Nothing you enter leaves your browser.
How to use it
- Choose the year: Tax Year 2026-27 for Form No. 124, or FY 2025-26 for Form 12BB. Fill in your name, PAN and address.
- Enter your salary, basic pay + DA, HRA and city — they are used only for the HRA exemption and the tax estimate — and the regime you will tell your employer.
- Add each landlord with the rent for the year, each lender with the interest, the LTC if you claim it, and one line for each deduction.
- Read the tax with and without the claims, and against the new regime, and fix anything the warnings point out.
- Download the PDF or print the form, sign it, and give it to your employer with the proofs listed.
Examples
HRA exempt ₹2,46,000. Old regime: tax ₹1,92,350 with the claims, ₹3,50,220 without — they save ₹1,57,870. The new regime would still cost less: ₹1,50,800.
Rent above ₹1 lakh a year: the landlord’s PAN is needed.
Lists the lender and interest; warns that only ₹2,00,000 counts, and only in the old regime.
Common uses
- The declaration window at the start of the year, and the proof submission before the last months’ payroll.
- Checking whether your claims make the old regime worth choosing with your employer.
- Preparing the landlord and lender details the form asks for.
- Replacing your employer’s old Form 12BB template with Form No. 124 for Tax Year 2026-27.
What the form asks for
- House rent allowance: the landlord’s name and address, and the PAN when the rent for the year exceeds ₹1,00,000; Form No. 124 also asks for the landlord’s Aadhaar and your relationship with the landlord, if any (rule 205; Note 3 to the form).
- Leave travel concession: evidence of the expense — tickets and bills.
- Interest on borrowing: the lender’s name, address and PAN — a financial institution, your employer or someone else.
- Deductions: under Form No. 124, sections 123 and 124 (the old 80C and 80CCD), 130 and 131 (home-loan interest of first-time buyers) and the other sections such as 126 (health insurance), 129 (education loan), 133 (donations) and 153 (deposit interest); under Form 12BB, sections 80C, 80CCC and 80CCD, then the other Chapter VI-A sections.
- Annexures (Form No. 124): A-1 the rent agreement, A-2 LTC documents, A-3 the loan agreement, A-4 the documents for the deductions.
New regime or old
The new regime (section 202; 115BAC for FY 2025-26) is the default, and it ignores HRA, LTC, interest on a home you live in and almost every deduction — your employer’s NPS contribution is the one that still counts. The form is worth giving only if you choose the old regime with your employer, so the tool compares the tax both ways. Without business income you can still change regimes when you file your return.
Sources
- Income-tax Rules, 2026 — rule 205 and Form No. 124, rule 279 (HRA)
- Income-tax Act, 2025 — sections 22, 123 to 133, 153, 202 and 392(5)
- Income-tax e-filing portal — Form 12BB (rule 26C of the Income-tax Rules, 1962) for FY 2025-26
Limitations
- The tax estimate uses salary and these claims only — add other income in the income tax calculator. Interest on a let-out house is listed in the form but not used in the estimate.
- Limits are applied as the income tax calculator applies them; your employer may ask for more evidence or count a claim differently.
- Employers often have their own portal or template: copy the figures into it if they do not accept this layout.
- The forms follow the official layouts; the boxes your employer fills (for example the unique number) are not part of them.
Privacy
Everything happens in your browser. What you enter or open here is not uploaded or stored by MySmartCoPilot.
Frequently asked questions
Has Form 12BB been replaced?
For Tax Year 2026-27, yes: the Income-tax Rules, 2026 call it Form No. 124 (rule 205). It asks for the same claims, plus the landlord’s Aadhaar and your relationship with the landlord. Form 12BB was for FY 2025-26 and earlier.
Do I need my landlord’s PAN?
When the rent for the year is more than ₹1,00,000 — ₹8,334 a month or more. If your landlord has no PAN, ask your employer what it accepts (usually a declaration from the landlord).
Should I submit Form 12BB if I am in the new regime?
It changes nothing for TDS in the new regime, except your employer’s NPS contribution, which counts in both. Give it if you choose the old regime — the tool shows which regime costs less with your claims.
What if I miss the employer’s proof deadline?
Your employer deducts TDS without the claims. You can still claim them in your return if you choose the old regime there, and get the extra TDS back as a refund.