The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption ...
Form 121 replaces Form 15H, which is filed by senior citizens, as well as Form 15G, which is filed by individuals below the age of 60. Here's a detailed explanation of the changes and key mistakes to ...
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 ...
From April 1, 2026, India’s income tax system gets a major reset with new forms under the Income-tax Rules, 2026. Form 121 replaces Forms 15G and 15H, creating a single declaration to avoid TDS for ...
A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal highlights improved efficiency, accuracy, and centralized ...
Form 121 is a declaration by a taxpayer to the effect that tax on his estimated total income for the tax year will be Nil, ...
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Form 121 for EPF members: EPFO clarifies who needs to file new form instead of Forms 15G, 15H
The Employees’ Provident Fund Organisation (EPFO) has replaced Forms 15G and 15H with a single Form 121, effective April 1, ...
Banking and tax-related processes have become much easier for crores of senior citizens and pensioners as the central government has implemented the new Income Tax Act, 2026, effective from Wednesday, ...
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Who needs to submit Form 121 instead of Forms 15G and 15H?
A major overhaul is on the way for EPF-related tax procedures, making things simpler and more streamlined for millions of ...
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 ...
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 ...
However, if an individual's total interest income is below the taxable limit, then they can submit Form 15G and 15H to the bank and request them not to deduct any TDS. Representative image. Source: ...
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