Form 15G, 15H & New Form 121 Update 2026 – Complete Guide (India Tax Update)

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📌 Form 15G, 15H & New Form 121 Update 2026 – Complete Guide (India Tax Update)

🔰 Introduction

Income Tax system में समय-समय पर बदलाव होते रहते हैं ताकि टैक्स प्रोसेस को आसान और digital बनाया जा सके। 1 अप्रैल 2026 से Income Tax Act 2025 और नए Income Tax Rules 2026 लागू होने की चर्चा के साथ कई पुराने forms में भी बड़े बदलाव बताए जा रहे हैं।

इन्हीं बदलावों में सबसे बड़ा बदलाव Form 15G और Form 15H को replace करके नया Form 121 लाना है।

इस ब्लॉग में हम समझेंगे:

  • Form 15G और 15H क्या हैं

  • कौन फाइल कर सकता है

  • नया Form 121 क्या है

  • TDS बचाने का पूरा तरीका

  • नए नियमों का impact

📌 Fixed Deposit और TDS कैसे लगता है?

अगर आप बैंक में Fixed Deposit करते हैं, तो उस पर मिलने वाली interest income पर TDS deduct किया जाता है।

  • सामान्य व्यक्ति के लिए ₹40,000 से ज्यादा interest होने पर TDS

  • Senior citizen के लिए ₹1,00,000 तक की limit (कुछ cases में)

TDS पहले बैंक deduct करता है और फिर आप ITR file करके refund claim करते हैं।

👉 Problem:
Refund में 1–1.5 साल लग जाते हैं।




📌 Solution क्या है?

अगर आप चाहते हैं कि TDS कटे ही नहीं, तो आप bank में Form 15G / 15H submit कर सकते थे।

लेकिन अब नया system आने वाला है।

📌 Form 15G क्या है?

  • Resident Individual और HUF के लिए

  • Age: 60 साल से कम

  • Condition: Total estimated income basic exemption limit से कम हो

👉 लगभग ₹4 लाख तक income वाले लोग इसका benefit ले सकते हैं

📌 Form 15H क्या है?

  • केवल Senior Citizens (60+ age)

  • Estimated income limit: ₹12 लाख तक (proposed structure)

👉 इसमें भी declaration देना होता है कि income taxable limit से कम है या tax nil होगा।




⚠️ Important Rules (Old System)

  • हर financial year में नया form भरना होता है

  • April में ही submit करना जरूरी

  • गलत information देने पर penalty और prosecution भी हो सकता है




📌 नया Update: Form 121 (From 1 April 2026)

अब proposed system के अनुसार:

👉 Form 15G + 15H दोनों replace होकर एक single form बन जाएगा
👉 इसका नाम होगा: Form 121

📌 Features of Form 121:

  • Single unified declaration form

  • Senior और Non-Senior दोनों के लिए

  • Bank automatically category पहचान लेगा

  • TDS deduction avoid किया जा सकेगा

📌 कौन Form 121 फाइल करेगा?

Non-Senior Citizen:

  • Income ≤ ₹4 lakh (estimated annual income)

Senior Citizen:

  • Income ≤ ₹12 lakh (estimated annual income)

📌 किन income पर benefit मिलेगा?

  • Fixed Deposit Interest

  • Savings Interest

  • Certain investment income

  • Some cases of dividend/interest income

📌 Stock Market & Mutual Funds में नया बदलाव

अगर आप:

  • Shares

  • Bonds

  • Mutual Funds

hold करते हैं और income ₹10,000+ होती है, तो TDS deduct होता है।

👉 Form 121 से TDS avoid किया जा सकता है (eligible cases में)




📌 Budget 2026 Amendment (Important)

New update के अनुसार:

👉 Demat holdings के लिए multiple forms भरने की जरूरत नहीं
👉 NSDL/CDSL (Depository) एक single Form 121 forward करेगा companies को




📌 Conclusion

Form 15G और 15H का purpose simple है – TDS को avoid करना और cash flow improve करना।

लेकिन proposed system में Form 121 एक unified solution बनकर सामने आ रहा है, जो process को और simple करेगा।

👉 Final Tip:
Always correct income estimate ही भरें, गलत declaration से legal issues हो सकते हैं।


📌 Form 15G, 15H & New Form 121 

❓FAQ 1: Form 15G kya hota hai?

Form 15G ek self-declaration form tha jo 60 saal se kam age wale resident individuals use karte the taaki bank FD interest ya dusri eligible income par TDS na kate.

📌 Conditions:

  • Indian Resident hona chahiye

  • Age below 60

  • Total tax liability NIL honi chahiye

  • Estimated income taxable limit se kam honi chahiye

📌 Mostly use hota tha:

  • FD Interest

  • RD Interest

  • EPF Withdrawal

  • Dividend Income


❓FAQ 2: Form 15H kya hota hai?

Form 15H specially Senior Citizens (60+ age) ke liye tha.

Agar senior citizen ki final tax liability NIL hoti thi, to wo Form 15H submit karke TDS deduction avoid kar sakte the.

📌 Kaun file kar sakta tha?

  • Resident Senior Citizen

  • Age 60+

  • Final tax payable zero

📌 Use cases:

  • FD Interest

  • Pension Income

  • Interest Income


❓FAQ 3: New Form 121 kya hai?

1 April 2026 se government ne Form 15G aur 15H ko replace karke ek naya unified Form 121 launch kiya hai.

📌 Ab kya change hua?
✅ Separate forms nahi rahenge
✅ Sab eligible taxpayers ke liye ek hi form
✅ Age-based difference remove ho gaya

📌 Purpose:
Agar aapki estimated tax liability NIL hai, to Form 121 submit karke TDS deduction avoid kar sakte hain.


❓FAQ 4: Form 121 kaun file kar sakta hai?

📌 Eligible Persons:

  • Resident Individuals

  • Senior Citizens

  • HUF

📌 Kaun file nahi kar sakta?
❌ NRIs
❌ Companies
❌ Partnership Firms

📌 Important Requirements:

  • PAN mandatory hai

  • Estimated income details deni hoti hai

  • Kuch cases mein previous ITR details bhi required ho sakti hain

Agar PAN nahi diya to higher TDS deduct ho sakta hai.


❓FAQ 5: Form 121 kaise aur kahan submit kare?

Aap Form 121 submit kar sakte hain:

✅ Bank
✅ Post Office
✅ EPFO
✅ Financial Institutions

📌 Submission Methods:

  • Online Net Banking

  • Physical form branch mein

  • EPFO portal par digital submission

📌 Important:
Har financial year mein fresh Form 121 submit karna hoga.

📌 Benefits:
✅ TDS avoid hota hai
✅ Refund ka wait nahi karna padta
✅ Process simpler ho gaya hai
✅ Senior citizen aur non-senior ke liye same form

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