What it is
A statement you give your employer at the start of the year, or when HR asks, listing the tax-saving claims you expect to make. Your employer uses it to work out TDS on your salary. The form is the same idea as before; only the number changed: Form 12BB under the old rules, Form 124 from tax year 2026-27.
First, tell your employer your regime
The new regime is the default. If you want the old regime for TDS, say so in your declaration. In the new regime, there's very little to declare: your employer's NPS contribution and the standard deduction are handled in payroll.
What to declare, and what details it needs
| Claim | What the form asks for |
|---|---|
| HRA | Rent paid, and your landlord's name and address. Landlord's PAN if your rent is more than ₹1 lakh a year |
| Leave travel (LTA) | Evidence of the travel |
| Home loan interest | The lender's name, address and PAN |
| 80C, 80D, 80CCD(1B), 80E and other deductions | The amounts, with evidence |
Declaration first, proof later
At the start of the year you declare what you plan to invest. Later in the year, usually between December and February, your employer asks for proof. Whatever you can't prove, your employer withdraws, and the extra tax is taken from your last few salaries.
Changed jobs this year?
Tell your new employer the salary and TDS from your previous job, so your TDS for the year is right. Otherwise both employers may give you the full slab benefit and standard deduction, and you'll owe tax when you file.
Forgot to declare?
You don't lose the deduction. Claim it in your income tax return, choosing the old regime there. Salaried people can change regime in a return filed by the due date, 31 July for most.
Common questions
What is Form 124?
The new number for Form 12BB from tax year 2026-27: the statement of claims you give your employer so it can work out TDS on your salary.
When do I need my landlord's PAN?
When the rent you pay is more than ₹1 lakh a year.
Do I need to declare investments in the new regime?
Very little. The new regime doesn't allow 80C, 80D or HRA. Your employer's NPS contribution is handled in payroll.
What if I forgot to declare an investment?
Claim it in your income tax return under the old regime, filed by the due date.
Two ways to sort this
Do it yourself
- Decide your regime first: in the new regime there's little to declare.
- List rent, home loan interest and planned 80C, 80D and NPS amounts.
- Collect your landlord's PAN if rent is over ₹1 lakh a year.
- Submit the declaration in your employer's portal or on Form 124.
Let an expert do it
We check your declaration so TDS is right, and nothing comes back at you in March.
The first chat is freeWork it out for yourself
- 80C planner: Use your ₹1.5 lakh 80C limit well.
- HRA exemption: How much of your HRA is tax-free.
- Health insurance (80D): Deduction for health insurance and check-ups.
- Rent receipt generator: Monthly rent receipts for HRA, as a PDF.
- Home loan EMI: EMI, interest and the tax you save on a home loan.
See how much of your 80C limit is left.
Open the 80C calculatorSources
- Form mapping guide: Income-tax Act, 2025 forms, Income Tax Department e-filing portal
- FAQs and guidance notes on forms under the Income-tax Rules, 2026, Income Tax Department
- Tax rules for salaried individuals, AY 2026-27, Income Tax Department
This guide explains the rules in general. For your own situation, .