CHENNAI : Indian Overseas Bank (IOB) informs its valued customers and the public that, in line with the Central Board of Direct Taxes (CBDT) notification and Section 393(6) of the Income Tax Act, 2025, the Government has retired Form 15G and Form 15H from Tax Year 2026-27. Effective 1 April 2026, a single unified document—Form 121 (Part A)—replaces them. Under Rule 211 of the Income Tax Rules, 2026, both senior citizens and other individuals will use this one form to declare that their income is below the taxable limit, reducing paperwork and making the process simpler.
To avoid the rejection of your declaration and the deduction of tax, please note that a valid PAN is mandatory for this. We request all customers to use the new Form 121, which is available at all our bank branches and also available online at www.iob.bank.in, in compliance with the Income Tax Act, 2025. Our staff members at all branches are ready to assist you in accessing this new form to ensure your records remain up to date with the latest rules. IOB staff are ready to assist with any queries.
