Form 121 (earlier Form 15G / 15H) for FD
Stop TDS on FD interest when your tax is nil — Form 121 replaced Forms 15G and 15H from 1 April 2026. Eligibility, how to submit and common mistakes.
Updated 30 September 2026 · 25 banks trackedWhat you need to know
Forms 15G (below 60) and 15H (60+) were self-declarations telling the bank not to deduct TDS because your total income is not taxable. From 1 April 2026, under the Income-tax Act, 2025 and the new rules, both have been merged into a single Form 121. Declarations for FY 2025-26 and earlier were made on Forms 15G/15H.
Who can submit
| Depositor | Eligibility |
|---|---|
| Below 60 (earlier 15G) | Resident individual/HUF whose tax on estimated total income is nil and whose total interest/income is within the prescribed limit |
| 60 and above (earlier 15H) | Resident senior citizen whose tax on estimated total income is nil (can be used even if income exceeds the basic exemption, e.g. because of rebate) |
| Not allowed | NRIs, companies, firms; anyone whose tax is not nil |
How to submit
- Download or fill onlineMost banks accept it via net banking (Deposits → Form 121/15G/15H).
- Fill detailsPAN, estimated income for the year, details of deposits.
- Submit earlySubmit at the start of each financial year (April) — once TDS is deducted, only a refund via ITR is possible.
- Keep acknowledgementThe bank uploads it and generates a unique number.
Mistakes to avoid
- Submitting when your tax is not actually nil — a false declaration is an offence.
- Forgetting to submit to every bank/branch where you hold deposits.
- Not resubmitting each year.
Frequently asked questions
Do I still use Form 15G or 15H?
For interest credited from 1 April 2026, use Form 121. Older years were covered by 15G/15H.
Can I submit it online?
Yes, most banks offer online submission.
Information is for education and comparison. Rates and rules change — confirm with your bank and a tax adviser before investing. FinancePortal is not a financial or tax adviser.