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

New Delhi: The Income Tax Department will be implementing a major change in tax rules, i.e, From April 1, 2026, Form 15G and Form 15H will be discontinued. With the Income Tax Act, 2025, coming to ...

The Income Tax Act, 2025, has come into force from 1 April 2026. One of the objectives of the new Act is to provide a streamlined, simplified tax code with reduced compliance and consolidated ...

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 ...

Learn about Form 121 in EPFO, the unified tax declaration replacing Forms 15G and 15H from April 1, 2026. Understand how to claim tax-free EPF withdrawals. Form 121 is a unified tax declaration form ...

New Tax Rule From April 2026: Form 121 replaces Forms 15G and 15H from April 2026, allowing eligible taxpayers to avoid TDS through a single declaration. Filing it early for FY 2026–27 is key to ...

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 ...