Form 122 Income Tax Rules 2026 pdf download and Key points

Last Updated on: April 19, 2026

Form 122 Income Tax Rules 2026 pdf download and Key points

FORM NO. 122
[See rule 204(1)]
Form for furnishing details of income under section 392(4)(a) for the purposes of making deduction where
income is chargeable under the head “Salaries”

Under the new Income-tax Rules, 2026, Form No. 122 merges and replaces the old Forms 12B and 12BAA. It is governed by Section 392(4)(a) of the Income-tax Act, 2025, and Rule 204(1) of the Income-tax Rules, 2026.

Here are all the key points regarding Form No. 122:

1. Purpose of the Form Form 122 is a consolidated declaration submitted by a salaried employee to their current employer. It provides a mechanism for the employee to report:

Salary income earned from any other employer(s) during the same Tax Year (along with the tax already deducted by them).
Losses under the head “Income from House Property”.
Any other non-salary income (not being a loss) and the respective Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) on those transactions. By reporting these details, the current employer can accurately compute the total tax liability, offset taxes already paid, and avoid deducting excess tax from the employee’s salary, thereby reducing the need for the employee to claim refunds later.

2. Applicability (Who Should File)

Who files: It is filed by a salaried employee who changes jobs during the financial year or has salary income from more than one employer. It is also used by an employee who wishes to claim a house property loss or report other income/TDS/TCS.
Not for non-salaried persons: It is strictly meant for salaried employees.
Is it mandatory? No, filing Form 122 is not mandatory by law, but it is highly beneficial for the employee to ensure correct tax deduction.

3. Frequency and Due Dates There is no specific statutory time limit for submitting this form to the employer. However, it is expected to be submitted at the earliest possible time, and no later than 31st March of the financial year, so the employer can accurately compute and deduct the final tax liability.

4. Mode of Filing

Offline/Internal HR: Form 122 is submitted directly to the employer (either physically or through the employer’s internal HR/payroll system).
No Portal Upload: It is not required to be uploaded on the Income-tax e-Filing portal, nor is it attached to the employee’s Income Tax Return (ITR).

5. Structure of the Form The form is divided into three main parts and an annexure:

Part A (Particulars of the Employee): Captures basic details such as Name, Address, PAN, Residential Status, and the relevant Tax Year.
Part B (Salary from other employers): Captures the details of the previous/other employer (Name, TAN/PAN) and the salary paid, including the value of perquisites, accretions to the provident fund, and the tax already deducted.
Part C (Other Income, Loss, and TDS/TCS): Divided into four sub-parts:
- C(1): Details of loss from House Property.
- C(2): Details of any other chargeable income (excluding house property loss).
- C(3): Details of TDS deducted on the other income.
- C(4): Details of TCS collected.
Annexure to Part B: Requires specific quantitative details regarding the value of perquisites (like rent-free accommodation, conveyance, free education, supply of gas/electricity/water) and provident fund accretions (like employer contributions exceeding 12% or interest credited exceeding government rates).

6. Key Updates in the 2026 Rules

Merger: Previously, employees had to file Form 12B (for previous salary) and Form 12BAA (for other income/TDS). These have now been merged into a single Form 122 to significantly reduce the compliance burden on employees.

Download Form 122 Income Tax Rules 2026 pdf download

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Form No.122– Frequently Asked Questions

Ans: Form No. 122 is a consolidated declaration submitted by an employee to his employer, reporting the following:
a. Salary income earned from any other employer during the same Tax Year including taxable allowances, perquisites, accretion to employee’s provident fund account and tax deducted by such other employer.
b. Loss under the head House property income.
c. Any other income (not being a loss) covered by other heads of income other than salary.
d. Tax deducted/collected during the tax year.

2. Who is required to submit Form No. 122?
Ans: A salaried employee is required to file Form No 122 with his employer to report salary income from any other employer or in case he wishes to claim loss under the head House property income or report tax deducted/collected at source from any other income.
In other words, an employee with salary income from more than one employer or having income from various sources and having been subjected to TDS/TCS on various transactions is required to file such form. It is not meant for use by nonsalaried persons.

3. What is the purpose of filing Form No. 122?
Ans: Filing of Form No 122 is useful for the following reasons:
a) Reduced TDS: Employees can offset the tax already deducted or collected on other income against their salary TDS liability.

b) Fewer Refund Claims: By accurately accounting for all taxes paid at the source, employees are less likely to overpay tax and need to claim a refund when filing their Income Tax Return (ITR).
c) Simplified Compliance: It streamlines the process of reporting non-salary income for both employees and employers. It provides the employee a formal way to claim credits for taxes paid elsewhere, by accurate reporting to his employer through Form No 122.
In essence, Form No 122 provides a mechanism for employees to report income from more than one employer, claim loss from house property income and to get credit for taxes already paid on non-salary income, leading to avoidance of excess tax deduction.

4. Is it mandatory to submit Form No. 122?
Ans: While not mandatory by law, it is beneficial to the employee as it ensures correct tax deduction, avoiding excess deduction and consequent filing of claim for refunds.

5. When should Form No. 122 be submitted?
Ans: There is no prescribed time-limit within which Form No 122 is to be submitted, to the employer.

6. What details are required to be filed in Form No. 122?

Ans: The form is divided into three distinct parts, viz. Part-A, B & C.
Part A requires details of the employee filing the declaration using Form 122.
In Part-B, Employee is required to fill particulars of the other employer and details of salary income earned from such other employer during the Tax year, including taxable allowances, perquisites, accretion to employee’s provident fund account and tax deducted by such other employer.
Part-C has four further sub parts:
Part C (1): Details of loss from House Property
Part-C (2): Details of any income chargeable to tax under any other head of Income besides salary but does not include loss of any kind
Part-C (3): Tax deducted at source on any income chargeable to tax under any other head of Income besides salary
Part-C (4): Tax collected at source

7. Can Form No. 122 be submitted online?

Ans: It can be submitted offline or through the employer’s HR/payroll system, if available.
It is not required to be uploaded on the Income-tax portal.

8. Is Form No. 122 required to be attached with the return of income?
Ans: No. It is not required to be uploaded with the return of income but it is essential for accurate reporting of income and taxes deducted/collected in the ITR.

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Guidance Note on Form 122

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Section 392 Income Tax Act 2025 Salary and accumulated balance due to an employee.

RULE 204 INCOME-TAX RULES 2026 Furnishing of particulars for deduction of tax at source from income under head “Salaries”.

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