EPFO update: Form 121 replaces 15G and 15H - What EPF members must know about new TDS rules (AI-generated image) In a significant compliance change aligned with the new tax regime, the Employees ...

The Employees’ Provident Fund (EPF) is designed to support employees’ long-term financial security, with both the employee and employer contributing 12% of the employee’s basic salary and dearness ...

The government has overhauled the tax deducted at source (TDS) declaration framework by introducing Form 121, which replaces ...

Fixed deposit interest provides passive income for many Indians but is subject to TDS under the Income Tax Act. TDS is ...

Starting April 1, the Employees’ Provident Fund Organisation replaced two separate forms with a single Form 121. This new rule goes with the Income Tax Act, 2025. It is meant to make the tax process ...

The Employees’ Provident Fund Organisation has rolled out Form 121 from April 1, 2026, replacing Forms 15G and 15H for eligible resident individuals seeking TDS exemption on PF withdrawals above ...

Senior citizens who are earning income below the basic exemption limit will no longer use Form 15H to avoid tax deducted at source (TDS). Under the Income-tax Rules 2026, this form has been replaced ...

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

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 ...