Form 124: The New Form 12BB for Declaring Rent and Investments
Form 124 replaced Form 12BB on 1 April 2026. What it asks for, the new landlord relationship question, when to submit it, and what happens if you don't.
Updated 27 September 2026 · 4 minute read
Form 124 is the new name for Form 12BB. From 1 April 2026 it is the statement you give your employer listing the rent, travel, home loan interest and tax-saving investments you want counted, with proof, so that the tax deducted from your salary reflects them. It comes from section 392(5)(b) of the Income-tax Act, 2025 and rule 205 of the Income-tax Rules, 2026.
The job is the same as before. What changed is a new question about your relationship with your landlord, supporting documents attached as annexures, and the new vocabulary: "tax year" instead of financial year, and the new section numbers.
Who needs to submit it
You need Form 124 if you are in the old regime and want your employer to count any of these when working out TDS:
- HRA exemption for rent you pay
- Leave travel allowance (LTA)
- Interest on a home loan
- Deductions such as section 123 (the old 80C), section 126 (health insurance, the old 80D) or section 129 (education loan interest, the old 80E)
In the new regime, none of those reduce your tax, so there is usually nothing to declare. The ₹75,000 standard deduction is applied automatically, and your employer's NPS contribution is handled through payroll.
What the form asks for
Part A has your details: name, address, PAN, contact details and the tax year.
Part B has the claims and the evidence for each:
| Claim | Details asked for | Evidence |
|---|---|---|
| House rent allowance | Rent paid, landlord's name and address, landlord's PAN if rent is above ₹1 lakh a year, your relationship with the landlord | Rent agreement, plus rent receipts if your employer asks |
| Leave travel | Details of the journey | Tickets and invoices |
| Home loan interest | Interest paid or payable, lender's name, address and PAN | Loan agreement and interest certificate |
| Deductions | Amount under each section | Premium receipts, investment statements and similar proof |
It ends with a declaration that the details are true, which you sign. You can give it to your employer on paper or electronically; it is not uploaded to the income tax portal.
The landlord question
The one genuinely new field asks whether your landlord is related to you, and how. It is aimed at HRA claims on rent paid to parents, a spouse or other relatives, where the department wants to be able to check the rent against the landlord's own return.
Paying rent to a parent who owns the house is still allowed, as long as the rent actually moves through a bank and your parent reports it as income. Paying rent to parents for HRA covers what makes such a claim hold up. If your rent is above ₹1 lakh a year, you also need the landlord's PAN, whoever they are.
To see how much of your HRA the rent makes tax-free, use the HRA exemption calculator. The rent receipt generator makes the monthly receipts many employers still ask for.
When to submit it
There is no due date in the law. In practice, employers ask twice:
- At the start of the tax year, a declaration of what you plan to claim, so they can spread the TDS saving across the months.
- Towards the end of the year, usually between January and March, the proofs. Anything you cannot prove by your employer's cut-off is dropped, and the tax catches up in the last few salaries.
If you change jobs during the year, give your new employer your salary and TDS from the old one as well, on Form 122, which replaced Form 12B. Otherwise each employer gives you the full rebate and slab benefit, and you owe tax when you file.
If you miss it
Nothing bad happens beyond a smaller salary for a while. Your employer deducts TDS without the claims, and you can still make them in your return, provided you file in the old regime, and get the excess back as a refund. The TDS on salary guide explains how employers spread the tax, and the new vs old regime guide helps you decide which regime to tell your employer.
Frequently asked questions
Is Form 124 the same as Form 12BB?
Yes. Form 124 replaced Form 12BB from 1 April 2026 under the Income-tax Act, 2025. It does the same job, with a new question about your relationship with the landlord and documents attached as annexures.
Is Form 124 related to section 124 of the Income-tax Act?
No. Section 124 is the deduction for NPS contributions, the old 80CCD. Form 124 is the declaration you give your employer; the numbers only match by coincidence.
Is the landlord's PAN mandatory in Form 124?
Only if the rent you pay is more than ₹1 lakh a year. Below that, the name and address are enough.
Do I need to submit Form 124 in the new tax regime?
Usually not. HRA, LTA, home loan interest on the house you live in and section 123 deductions do not count in the new regime, and the standard deduction needs no declaration.
What happens if I don't submit Form 124?
Your employer deducts tax without your claims, so your salary is lower for those months. You can still claim the deductions in your return, in the old regime, and get a refund of the extra TDS.
Can I submit Form 124 online?
You give it to your employer, either on paper or through the company's payroll or HR system. It is not filed on the income tax portal.