What changed
Forms 15G (individuals below 60, income below taxable limit) and 15H (senior citizens) merged into Form 121 under IT Rules 2026. The purpose and eligibility conditions remain unchanged — submitted to the bank/payer at start of financial year to prevent TDS on interest.
Effective date
Form 121 is used for Tax Year 2026-27 (income earned from 1 April 2026). For filings relating to FY 2025-26 and earlier years, the old Form 15G / Form 15H applies.
Frequently asked questions
What replaced Form 15G / Form 15H in the IT Act 2025?▾
Form 15G / Form 15H is replaced by Form 121 under the Income Tax Rules 2026, effective from Tax Year 2026-27. Forms 15G (individuals below 60, income below taxable limit) and 15H (senior citizens) merged into Form 121 under IT Rules 2026. The purpose and eligibility conditions remain unchanged — submitted to the bank/payer at start of financial year to prevent TDS on interest.
Does Form 15G / Form 15H still apply for FY 2025-26?▾
Yes. For Tax Year / AY 2026-27 (income of FY 2025-26), the old Form 15G / Form 15H continues to apply. The new Form 121 is used from Tax Year 2026-27 onwards. Verify on the income-tax portal before filing.