TDS/TCS relief declarations require prescribed forms, evidence, unique identification, reporting, retention, and certification of eligible non-trading use.

Rules 208, 211 and 212 prescribe TDS/TCS relief declarations, supporting evidence, identification, reporting and retention requirements. Specified senior citizens may submit Form No. 125 to specified banks, which must consider eligible deductions and rebates, compute income, and retain evidence. Form No. 121 declarations may be electronic or paper, require unique identification numbers and quarterly TDS reporting, and must be available for verification. Buyers seeking non-collection of tax must submit duplicate Form No. 127 declarations confirming non-trading use of goods; collectors must forward one copy to the prescribed authority.

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