Form 125: Declaration by a specified senior citizen under section 393(1)
Source checked 21 October 2026 · Original author: Finin2min Editorial Desk
Purpose, person and period
Declaration by a specified senior citizen under section 393(1).
The specified senior citizen furnishes Form 125 to the specified bank; the bank computes total income, eligible deductions/rebate and withholding under Rule 208 and the applicable regime.
Period gate: This numbered form belongs to the Income-tax Rules, 2026, effective 1 April 2026. The predecessor 12BBA 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.
Controlling rule and source pages
Rule 208; Section 393(1), Section 402(39), Section 156. Physical PDF pp 721-721; printed Gazette pp 2253-2253.
Rule 208 — connected rule text
208. Furnishing of declaration and evidence of claims by specified senior citizen under section 393(1) [Table: Sl. No. 8(iii)].— (1) The declaration under section 402(39)(c) read with section 393 (1) [Table: Sl. No. 8(iii)], may be furnished by the specified senior citizen to the specified bank in Form No. 125. (2) The specified bank shall, after giving effect to the deduction allowable under Chapter VIII and rebate allowable under section 156, compute the total income of such specified senior citizen for the relevant tax year and deduct income-tax on such total income, on the basis of the rates in force. (3) The effect to the deduction allowable under Chapter VIII shall be given based on the evidence furnished by the specified senior citizen during the tax year. (4) The declaration referred to in sub-rule (1) and evidence for claiming deduction under Chapter VIII referred to in sub-rule (3) shall be properly maintained by the Specified Bank and shall be made available to the Chief Commissioner of Income-tax, as and when required.
Completed field illustration
Fictional data, not for filing. A fictional resident aged 78 has only pension and interest through one assumed specified bank and gives its declaration.
| Form field / block | Completed fictional entry |
|---|---|
| Declarant / PAN / address / birth date | Suresh Kumar Sharma / synthetic ZZZPS0000Z / 10 Model Road, Pune / 15 August 1948 |
| TY / contact | 2026-27 / senior@example.invalid, +91 0000000000 |
| Specified bank / pension employer / PPO | Example Specified Bank, assumed notified qualifying bank / Example Former Employer / MODEL-PPO-125 |
| Account details / holding | MODEL-PENSION-125 and MODEL-FD-125 / individual accounts in the same specified bank |
| Row 12: opting out of new regime | No, new-regime treatment assumed |
| Declaration of exclusive income | Pension Rs 8,00,000 and same-bank interest Rs 2,00,000 only; no other income assumed |
| Verification | 21 October 2026 / 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
- Age 78 during TY exceeds the 75-year specified-senior threshold, assuming residence and all other section 402(39) conditions.
- Pension after assumed Rs 75,000 salary standard deduction 7,25,000 + interest 2,00,000 = 9,25,000; ordinary new-regime tax is nil after eligible rebate on these assumptions.
This is not Form 121 and is not a general tax exemption for everyone aged 75. The specified bank must check the exact income/account conditions, evidence and statutory tax computation before the associated return-filing relief can apply.
Prepare, furnish and retain
- Use the form identity and period above, then determine the person who prepares, issues or verifies it from Rule 208. 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 125 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.