Declaration by person claiming receipt of certain incomes without deduction of tax under section 393(6)

Corresponding 1962 rule: rule 29C (Form No. 121 replaces Forms 15G and 15H).

Form and manner (sub-rules 1 and 2). The declaration under section 393(6) is in Form No. 121, furnished either electronically after verification through an electronic process, or in paper form.

Payer's duties (sub-rules 3 and 4). The person paying the income or sum:

• allots a unique identification number to each Form No. 121 received during every quarter, following the procedures, formats and standards of the Director General of Income-tax (Systems); and
• furnishes the statement of deduction of tax under rule 219 containing particulars of the declarations received in each quarter with their identification numbers, even if no tax was deducted in that quarter.

Production (sub-rule 5). An income-tax authority may, before the end of seven years from the end of the tax year in which the declaration was received, require the payer to furnish or make available the declaration for verification or any proceeding under the Act.