Form 15G/15H (Form No. 121) Eligibility Checker and Filler (India)
Can a declaration stop TDS on your interest? Check the conditions, then fill the form.
Tax Year 2026-27 Income-tax Act, 2025 · Form No. 121 · Sources
The conditions
Each payer
| Payer | Income | For the year | TDS without the form | Declaration |
|---|
Both regimes
| New regime | Old regime |
|---|
Pre-filled Form No. 121
Your details go only into the draft on this page and the file you download; nothing is saved or sent.
Rules used and official sources
- Income-tax Act, 2025 — section 393(6) and its Table, sections 392(7), 393(1), 397(2)(f) and 482
- Finance Act, 2026 — sections 84 (section 393) and 116 (section 482)
- Income-tax Rules, 2026 — rule 211, Form No. 121 and Form No. 125
- Income-tax e-filing portal — Forms 15G and 15H (section 197A of the Income-tax Act, 1961)
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 15G/15H (Form No. 121) Eligibility Checker and Filler (India)
Banks, post offices and companies deduct TDS from interest, dividends, rent and similar payments once they cross a yearly threshold. If your tax for the whole year will be nil, you can give the payer a declaration so that nothing is deducted. Under the Income-tax Act, 2025 that declaration is Form No. 121 (section 393(6) and rule 211); for FY 2025-26 it was Form 15G, or Form 15H at 60 or older.
This checker tells you whether a declaration would be valid, and why not if it would not be: you must be a resident individual (an HUF can give it for everything except dividends), have a PAN, have nil tax on your estimated total income after deductions and the rebate, and — below 60 — keep your income of these kinds within the basic exemption limit (₹4 lakh in the new regime, ₹2.5 lakh in the old). It shows the TDS each payer would deduct without the form, compares both regimes, and prepares a pre-filled draft of Form No. 121 for each payer, to print or save as PDF. Everything is worked out in your browser.
How to use it
- Choose the year, say who is declaring (a resident individual or an HUF), your age at any time in the year and the tax regime you will use.
- List each interest, dividend or other income with the bank or company that pays it and the amount for the whole year — every FD and RD, bonds, company deposits, mutual fund payouts, rent from a business tenant, an early EPF withdrawal, insurance commission or a taxable insurance payout. Add savings-account interest too: it counts towards the limit.
- Open “Your other income” for salary or pension, business profit, other rent and capital gains, and, for the old regime, your deductions.
- Read the result: each condition with the section behind it, the tax under both regimes, and the TDS each payer would deduct without a declaration.
- If the checks pass, fill in your name, PAN and address and download or print the drafts — one Form No. 121 per payer, with the earlier declarations of the year already counted. Give each payer its form before the first interest is credited.
Examples
Valid under the new regime: total income ₹6,72,000, tax ₹13,600 wiped out by the rebate, and no income limit at 60+. Without the form SBI would deduct ₹28,000; the post office nothing (below its ₹1 lakh senior threshold).
Under the old regime the same income is taxed ₹40,976, so the declaration would not be valid there.
Not valid: the tax is nil because of the rebate, but ₹4.5 lakh of interest is above the ₹4 lakh limit for people under 60. The bank deducts ₹45,000, which comes back as a refund when you file your return.
Valid under the new regime (total income ₹6,75,000, nil tax after the rebate, interest within ₹4 lakh) — not under the old regime, where the tax would be ₹54,600.
Common uses
- A senior citizen with deposits in several banks deciding where to give Form No. 121 and what to write in it.
- A student or homemaker whose only income is FD interest, checking the ₹4 lakh limit before giving the form.
- Someone leaving a job within five years, checking whether a declaration can stop TDS on the EPF withdrawal.
- An insurance agent with small commission income, or a family HUF with deposits.
- Working out why TDS was deducted even though a declaration was given.
The conditions, one by one
- Who. A resident individual (Sl. No. 1 of the Table in section 393(6)), or any other person except a company or a firm — in practice an HUF — for every income except dividends (Sl. No. 2). Non-residents cannot use it: their TDS is under section 393(2), which the declaration does not cover.
- PAN. A declaration without a valid PAN is invalid, and TDS is then deducted at 20% (section 397(2)(f)).
- Nil tax. The tax on your estimated total income for the year — all your income, after deductions, house-property loss set-off and the rebate of section 156 — must be nil (note 10 to Form No. 121). Capital gains taxed at special rates are outside the new-regime rebate, so they can make the tax more than nil.
- The limit, below 60. For everyone except a resident individual aged 60 or more at any time in the year, the declaration does not apply if the income of these kinds credited or paid in the year exceeds the maximum amount not chargeable to tax — ₹4,00,000 in the new regime, ₹2,50,000 in the old (Note to the Table). So below 60, a rebate that makes your tax nil is not enough on its own.
Which incomes a declaration covers
Interest on deposits with banks, co-operative banks and the post office, interest on bonds and debentures, interest from companies and firms, dividends (individuals only), mutual fund income, rent from a company or other business tenant, EPF withdrawals before five years of service, insurance commission and taxable life-insurance payouts — section 393(6) with sections 392(7) and 393(1) Table Sl. Nos. 1(i), 2(ii), 4(i), 5, 7 and 8(i). The same incomes were covered for FY 2025-26 under section 197A (sections 192A, 193, 194, 194A, 194D, 194DA, 194-I and 194K).
Rent paid by an individual tenant who is not running a business (2% TDS above ₹50,000 a month) is not covered, and savings-account interest needs no declaration because no TDS is deducted on it.
Giving the form
Give one declaration to each payer for the year — most banks take one for all your deposits with them, online or on paper (rule 211(2)) — before the first credit, because TDS deducted earlier is not reversed. Column 11 asks how many Form No. 121 you gave earlier in the year and for how much income; column 12 adds them up; column 13 is your estimated total income. The payer gives each declaration a unique number and reports it in its TDS statement (rule 211(3)–(4)). The draft this tool prints is for your records and to copy into the payer’s own form; Part B is for the payer. For Tax Year 2027-28 onwards the Finance Act, 2026 also lets you give the declaration for listed dividends, interest on listed securities and units held in demat to the depository (section 393(6)(b)).
Sources
- Income-tax Act, 2025 — section 393(6) and its Table, sections 392(7), 393(1), 397(2)(f) and 482
- Finance Act, 2026 — sections 84 (section 393) and 116 (section 482)
- Income-tax Rules, 2026 — rule 211 and Form No. 121, Form No. 125
- Income-tax e-filing portal — Forms 15G and 15H for FY 2025-26 (section 197A of the Income-tax Act, 1961)
Limitations
- For resident individuals and HUFs. Associations of persons, trusts and other persons that may give the declaration are not modelled, and the TDS of a non-resident, a company or a firm is not worked out (their rates and thresholds differ).
- The estimate is only as good as your figures for the whole year: include interest from every bank, not only from the payer you are giving the form to.
- House property is taken as rent less the 30% standard deduction; municipal tax, home-loan interest and losses are not modelled. Business income is entered as profit.
- Old-regime deductions are kept simple: investments (section 123 / 80C), health insurance for yourself and a total for anything else. The 80TTB deduction for senior citizens is applied automatically.
- The draft follows the layout of Form No. 121 in the Income-tax Rules, 2026. Banks have their own versions and online forms; copy the figures into theirs.
Privacy
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Frequently asked questions
Are Form 15G and 15H still used?
Not for payments in Tax Year 2026-27 and later. Under the Income-tax Act, 2025 there is one form for everyone, Form No. 121, with a yes/no box for being 60 or older (rule 211 of the Income-tax Rules, 2026). Forms 15G and 15H were for payments up to FY 2025-26.
My tax is nil because of the ₹12 lakh rebate. Can I give the form?
At 60 or older, yes. Below 60, only if your interest, dividends and other income of these kinds for the year are also within the basic exemption limit — ₹4 lakh in the new regime. Someone aged 40 with ₹6 lakh of FD interest pays no tax, but cannot give the declaration; the bank deducts TDS and the refund comes when the return is processed.
Which limit applies: ₹2.5 lakh or ₹4 lakh?
The “maximum amount not chargeable to tax” for the regime you use: ₹4 lakh in the new regime (the default), ₹2.5 lakh in the old. The checker shows both regimes; choose the one you will actually use for the year.
Can I give Form No. 121 for my PF withdrawal?
Yes. A withdrawal before five years of continuous service is taxable and carries 10% TDS from ₹50,000 (section 392(7)); the declaration covers it if your tax for the year will be nil and, below 60, your income of these kinds is within the limit.
What happens if I give a wrong declaration?
The payer skips the TDS, but your tax is still due, with interest. A false declaration is an offence under section 482: punishable with a fine or, where the tax that would have been evaded is more than ₹10 lakh, with simple imprisonment, a fine or both. If your income rises during the year, tell the payer and stop relying on the form.
Do I need to give the form to a bank that would not deduct TDS anyway?
No. TDS on deposit interest starts above ₹50,000 a year from one bank (₹1 lakh for senior citizens), on dividends above ₹10,000 from one company and on mutual fund income above ₹10,000 from one fund house. The checker marks payers whose income is below their threshold.