For Tax Year 2026–27, the no-TDS self-declaration corresponding to Form 15H is furnished in Form 121 under section 393(6).
For Tax Year 2026–27, the no-TDS self-declaration corresponding to Form 15H is furnished in Form 121 under section 393(6). It is available to a resident individual aged 60 or more only when estimated tax on total income is nil.
The declaration does not make interest exempt and cannot be filed merely because one bank's interest is below a threshold. The payer must report the declaration under the new rules.
Estimate total income and final tax; confirm residence and age; include all interest/pension/other income; submit Form 121 to each payer; file a return if otherwise required.
A senior has bank interest ₹6 lakh but deductions and rebate reduce final tax to nil. Form 121 can be considered. If final tax is ₹5,000, the declaration is invalid even if no single FD crosses a threshold.
The example is an illustration, not a substitute for the taxpayer's facts. A change in status, period, payment mode, document, city, asset, relationship or scheme can change the result.
Search pages often state a rate or limit without identifying the governing base. The calculation must distinguish gross receipt from taxable profit, tax from TDS, a deduction from an exemption, salary from business income, and an accounting entry from the tax treatment.
| Decision point | Required treatment |
|---|---|
| Legal year | Use the Act, rules and notification effective for the income or transaction period |
| Taxpayer category | Confirm residence, age, entity, employee/business status and regime |
| Calculation base | Use the statutory definition rather than CTC, net bank receipt or accounting label |
| Ceiling or rate | Apply actual-amount, percentage, shared, lifetime and gross-income limits in sequence |
| Documentation | Link every input to an invoice, statement, contract, certificate or official record |
| Final output | Show tax, surcharge, cess, interest and TDS/TCS credits separately |
This page is written around the entities and concepts search engines expect for the topic: senior citizen, super senior citizen, section 153, Form 121, advance tax. They are used only where relevant and are connected to the live calculator and knowledge hub rather than repeated mechanically.
For the complete rules on this topic, see the core guide: Senior Citizen Tax Slabs FY 2026-27: Old vs Default Regime.
See the broader Income-tax Act 2025 study guide hub for related rules and calculators on this topic.
For Tax Year 2026–27, the no-TDS self-declaration corresponding to Form 15H is furnished in Form 121 under section 393(6). It is available to a resident individual aged 60 or more only when estimated tax on total income is nil.
Finin2min rule: establish eligibility, calculate transparently, and preserve an audit trail.
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