Income-tax Rules, 2026 · Appendix III

Form 121: Declaration under section 393(6) for receipt of specified income without tax deduction

Source checked 21 October 2026 · Original author: Finin2min Editorial Desk

Purpose, person and period

Declaration under section 393(6) for receipt of specified income without tax deduction.

The eligible declarant completes Part A of Form 121; the income payer checks the conditions, allocates the prescribed identifier, completes Part B and reports declarations with the relevant TDS statement. The payer must also deliver the declaration to the prescribed authority by the seventh day of the month immediately following the quarter under amended section 393(7); this is distinct from statement/UIN reporting. The depository delivery route takes effect only from 1 April 2027.

Period gate: This numbered form belongs to the Income-tax Rules, 2026, effective 1 April 2026. The predecessor 15G, 15H is a concordance, not permission to change an earlier-year filing into a new-law form. For earlier periods, use the applicable 1961 Act form and saved procedure.

Official transition guidance

Controlling rule and source pages

Rule 211; Section 393(6). Physical PDF pp 708-711; printed Gazette pp 2240-2243.

Rule 211 — connected rule text

211. Declaration by person claiming receipt of certain incomes without deduction of tax under section 393(6). — (1) A declaration under section 393(6) shall be furnished in Form No. 121. (2) The declaration referred to in sub-rule (1) may be furnished in any of the following manner:— (a) electronically after duly verifying through an electronic process; or [PDF PAGE 158] 1690 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] (b) in paper form. (3) The person responsible for paying any income or sum of any nature referred to in section 393(6), shall allot a unique identification number to each declaration received by him in Form No. 121, during every quarter of the financial year in accordance with the procedures, formats and standards specified by the Director General of Income - tax (Systems). (4) The person responsible for paying any income or sum of any nature referred t o in section 393(6), shall furnish the statement of deduction of tax referred to in rule 219, containing the particulars of declaration received by him during each quarter of the tax year along with the unique identification number referred to in sub -rule (3), regardless of the fact that no tax has been deducted in the said quarter. (5) Subject to the provisions at sub -rule (4), an income-tax authority may, before the end of seven years from the end of the tax year in which the declaration has been received , require the person referred to in sub -rule (3) to furnish or make available the declaration for the purposes of verification or any proceeding under the Act.

Completed field illustration

Fictional data, not for filing. The existing full fictional Form 121 model shows a resident senior citizen with ordinary pension and interest income and nil estimated tax after the applicable rebate.

Form field / block	Completed fictional entry
Part A: declarant / PAN / residence / age / TY	Suresh Kumar Sharma / synthetic ZZZPS0000Z / resident / born 15 August 1959, age 67 / 2026-27
Current declaration income / nature	Rs 3,00,000 bank FD interest
Earlier declarations count / income / annual aggregate	1 / Rs 50,000 / Rs 3,50,000
Estimated total income	Rs 8,75,000: pension Rs 6 lakh less new-regime standard deduction Rs 75,000 plus FD interest Rs 3,50,000
Nil estimated-tax computation	Ordinary slab tax Rs 27,500; eligible section 156 rebate Rs 27,500; remaining tax and cess nil, assuming no special-rate income
Senior specified-income ceiling condition	Not applicable to this resident individual aged 60 or more; nil estimated tax remains essential
Prior-return fields	Two assumed earlier FY returns in full model; dummy acknowledgements do not prove actual filing
Part B: payer / TAN / UIN	Illustration Bank Limited / synthetic PNEI00000X / model UIN only, not an issued acknowledgement
Receipt date / signature	21 October 2026 / all signature and certification fields explicitly NOT SIGNED

This illustrates the named fields, not every possible schedule. Use the complete official extract for additional applicable fields, annexures and verification. “Not signed” means no professional certification or authority action has occurred.

Reconcile the example

3,00,000 + 50,000 = 3,50,000 total income covered by declarations.
6,00,000 - 75,000 + 3,50,000 = 8,75,000 estimated total income.
20,000 + 10%×75,000 = 27,500; rebate reduces model tax to nil.

This senior example is not a universal nil-TDS entitlement for everyone below Rs 12 lakh. Other eligible declarants have the additional specified-income/basic-exemption condition. Use legacy 15G/15H for the applicable earlier-law period, and current Form 121 for TY 2026-27.

Prepare, furnish and retain

Use the form identity and period above, then determine the person who prepares, issues or verifies it from Rule 211. An authority-issued order is not an applicant filing.
Collect the records that support the actual fields in the example; keep any mandatory schedules and annexures specified in the complete source form.
Reconcile dates, amounts, units and identifiers to the underlying records. Preserve the applicable rule version and any later correcting notification.
Where the rule prescribes electronic furnishing, use the current official utility/schema and authorised verification. A local PDF does not produce a portal acknowledgement.
Retain the submitted version, supporting schedules and actual acknowledgement or issued certificate/order, as applicable. This fictional model supplies none of those evidential outcomes.

Download the correct documents

Official Form 121 source extract Filled sample — fictional field illustration

The official extract preserves source pages; later amendments are supplied with affected forms. Read the April corrigendum where its printed-page corrections apply. The filled field illustration is an educational model and cannot be filed.

Primary sources

Questions readers ask

Does this sample prove approval, filing or a professional conclusion?

No. It completes the named fields using synthetic facts. It has no real signature, DSC, approval or acknowledgement.

Can I use the legacy form number for a current tax-year obligation?

Establish the governing period first. A predecessor number is a cross-reference; earlier-year procedures and current-year forms must be kept distinct.