The National Securities Depository Limited (NSDL) on April 09, 2026, issued the notification regarding the Enhancement in DPM-SHR System for providing Form 121 (Exemption from Tax Deduction) for income streams viz., Interest and Dividend along with request for Beneficial Ownership (BENPOS) information.
The following has been stated namely: -
• As per Budget 2026 changes under the Income-tax Act, Form 15G/15H have been replaced by Form 121 for declaration of certain incomes without TDS, effective April 01, 2026.
• National Securities Depository Limited (NSDL) enables clients to submit Form 121 for all demat holdings, avoiding multiple submissions to different companies or RTAs.
• Clients can submit Form 121 digitally via NSDL SPEED-e / IDeAS platforms and the Unified Investor App feature.
• Issuers/R&T Agents must provide interest and dividend entitlement details when requesting BENPOS (beneficial ownership data).
• A new option “Detailed with Form 121” is added in the DPM-SHR system (effective April 01, 2026), allowing download of Form 121 details along with beneficiary data.
[Notification No. NSDL/CIR/II/21/2026]
