Tax Forms Guide 2026: Form 12BB, 15G, 15H, 10E and 26QB Explained

A handful of forms do most of the quiet work in your tax life: they stop TDS on interest you will never owe tax on, spread salary arrears across the right years, and collect tax on property sales. This decoder explains Form 12BB (Form 124 from tax year 2026-27), 15G, 15H, 10E, 26QB, 10-IEA and Form 67 — who fills each one, with whom, and the filing order that keeps notices away.

New law note: From 1 April 2026, the Income-tax Act, 2025 replaces the Income-tax Act, 1961. Returns for FY 2025-26 (AY 2026-27) are still filed under the 1961 Act with ITR-1 to ITR-7, so the section numbers used in this guide remain the ones for that filing. From tax year 2026-27, provisions carry new numbers (for example, Section 80C becomes Section 123 and Section 87A becomes Section 156) and key forms change (Form 16 becomes Form 130 and Form 26AS becomes Form 168), while proceedings for earlier years continue under the 1961 Act. See the complete mapping in our Income-tax Act 2025 section and form mapping guide.

Quick summary — who files what, with whom

Form 12BB — the employee’s investment declaration

Form 12BB is the annual statement you give your employer so that monthly TDS on salary tracks your actual deductions instead of the worst case. It covers HRA (with rent paid and the landlord’s PAN where annual rent exceeds ₹1 lakh), LTA, Section 80C (Section 123 of the Income-tax Act, 2025) and 80D investments, 80E education-loan interest, 80G donations and home-loan interest under Section 24(b) (Section 22 of the Income-tax Act, 2025).

Submit it when the employer asks — most companies collect it between December and January for the running year — and keep the proofs ready, because employers collect them later before closing payroll. Over-declaring is the classic mistake: any excess claimed without proof is simply recovered from your March salary. Run the numbers first with an salary calculator so the declaration matches reality.

Form 15G and Form 15H — stopping TDS when tax is nil

Form 15H is the more lenient of the two: a senior citizen with, say, ₹9 lakh of pure interest income can still submit it if the tax after rebate works out to nil, while Form 15G would not be available at that income. Submit the form to each bank before the first interest credit of the financial year — early April, ideally — because a form given after TDS is deducted only helps at refund time. Validity is one financial year, so the exercise repeats every April, and PAN is mandatory or TDS runs at 20%.

Form 10E — relief on salary arrears (Section 89)

When you receive arrears of salary, pension or gratuity from earlier years in one lump sum, the whole amount lands in today’s income and can push you into higher slabs. Section 89 relief spreads the arrears over the years they relate to, softening the jump. You compute the benefit in Annexure-I of Form 10E and file it online on the e-filing portal.

The order matters: file Form 10E before submitting your ITR. The portal cross-checks the two, and claiming relief in the ITR without a matching 10E invites a Section 143(1) (Section 270 of the Income-tax Act, 2025) adjustment notice. Keep the employer’s arrears workings and the earlier years’ salary details ready, since Annexure-I asks for exactly those figures.

Form 26QB — TDS when you buy property

Buying immovable property (other than rural agricultural land) from a resident seller for ₹50 lakh or more makes you a tax deductor: TDS applies on the sale consideration at 2% — the rate that took effect from 1 October 2024, replacing the earlier 1%. Form 26QB is the combined challan-cum-statement through which you report and pay it, within 30 days from the end of the month of deduction.

Individual buyers need no TAN — the form runs on the buyer’s and seller’s PANs — and where there are multiple buyers or sellers, each buyer-seller pair files its own form for its share. Issue Form 16B to the seller within 15 days of the 26QB due date so the seller can claim the credit. Late payment attracts interest at 1% per month for deduction delays and 1.5% for deposit delays, so put the date in your calendar the day the sale deed is signed.

Form 10-IEA — opting out of the new regime

Salaried taxpayers simply choose the old regime inside the ITR. Anyone with business or professional income must file Form 10-IEA to opt out of the new regime, and the form is due before the ITR deadline for the year. The switch is sticky by design: once you opt out, you can move back to the new regime only once, after which the choice locks against further changes. Weigh the decision across several years of income projections rather than one weak year, and get help from an income tax consultant if business income fluctuates.

Form 67 — foreign tax credit

If the same income is taxed abroad and in India — a foreign salary, consultancy fee or capital gain — Form 67 is how you claim credit for the foreign tax against the Indian liability, under the applicable treaty or Section 91. Attach the foreign tax certificate or proof of payment, and file the form on or before the ITR due date for the year. The credit is limited to the Indian tax on that income, so a country with harsher rates than India does not transfer the excess.

The filing order that avoids notices

• April, year start: submit Form 15G or 15H to every bank before the first interest credit.
• December to January: hand in Form 12BB to your employer with realistic figures, not optimistic ones.
• Arrears received: compute and file Form 10E, then file the ITR — in that order.
• Property bought: deposit TDS through Form 26QB within 30 days of month-end, then issue Form 16B.
• Business income and old regime: file Form 10-IEA before the ITR due date, and remember the one-way switch.
• Foreign tax paid: file Form 67 with the certificate before the ITR due date.
• Finally, e-verify the ITR within 30 days — an unverified return undoes the whole sequence.

Key takeaways

• Form 12BB shapes your salary TDS through the year; 15G and 15H stop TDS on interest when your tax is genuinely nil.
• Form 10E must precede the ITR whenever Section 89 relief on arrears is claimed.
• Form 26QB runs on PAN alone for individuals, at the 2% rate in force since October 2024, with a 30-day deposit window.
• Form 10-IEA is a business-income-only form, and Form 67 unlocks foreign tax credit — both tied to the ITR due date.
• Check the TDS flow each quarter with a TDS calculator rather than discovering shortfalls in March.

Frequently asked questions

Is Form 15H better than Form 15G?

For senior citizens, yes — 15H only requires that the final tax be nil, even if income exceeds the exemption limit. Form 15G additionally requires total income below the taxable limit, and is unavailable to non-residents.

Can an NRI submit Form 15G?

No — both 15G and 15H are for residents. NRIs manage bank TDS through lower-deduction certificates under Section 197 instead.

What if my employer deducted more TDS than my final liability?

Form 12BB is only a planning declaration; the actual claim happens in the ITR. Any excess TDS comes back as a refund after processing.

Do I need a TAN to file Form 26QB?

Individual buyers do not — the form works on the buyer’s and seller’s PANs. Non-individual buyers already holding a TAN use it where required.

Can I claim Section 89 relief in the ITR without Form 10E?

No — the portal flags the mismatch in the Section 143(1) intimation and the relief can be denied. File 10E first, then the ITR, every time arrears are involved.

Disclaimer: Tax laws change frequently. Verify current rates and deadlines on the official portals (incometax.gov.in, gst.gov.in) or consult a qualified professional before acting.