Under the new framework, Form 121 serves as a unified self-declaration for individuals seeking exemption from tax deducted at ...

EPFO has introduced Form 121 to replace Forms 15G and 15H from April 1, 2026 under the new Income Tax Act, 2025. Here’s how the new TDS exemption rule works, who can use it, and what PF members must ...

Form 121 is a unified tax declaration form used by EPF members to claim exemption from TDS on withdrawals exceeding Rs 50,000 ...

The new Income-Tax Act 2025 replaced the original Tax Deducted at Source forms — Form 15G and 15H — with a single Form 121, ...

As per the Income Tax Act, 1961, bank depositors had to submit Form 15G/Form 15H to the bank to avoid Tax Deducted at Source (TDS). Some depositors were confused about which of the two forms applied ...

Form 121: A new combined form, now replaces Forms 15G and 15H. This simplifies the process for individuals and senior citizens to declare income below taxable limits. Eligible taxpayers can now use ...

The Income-tax Rules, 2026, mark a major clean-up of the compliance framework. The government has reduced the number of rules ...

Taxpayers who earlier used Form 15G (below 60 years) and Form 15H (senior citizens) will now submit a single, unified Form 121. EPFO said the form is optional and meant for eligible individuals with ...