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EPFO News: Following the implementation of the Income Tax Act, 2025, several changes have been introduced to tax-related regulations. The common man needs to be aware of all these changes. For instance, if you now wish to claim a TDS exemption under the EPF scheme, you must utilize Form 121.

Form 121 has eliminated the need for Forms 15G or 15H, as Form 121 will now be used to replace both of these forms. The EPFO shared information regarding this new form on the social media platform 'X'. Let us now understand what Forms 15G and 15H are and why they were previously required.

What are Forms 15G and 15H?
Taxpayers utilize these two forms to claim TDS exemptions on EPF withdrawals. Before April 1, 2026—that is, before the enactment of the new Income Tax Act—individuals under the age of 60 were required to submit Form 15G. If an individual was over the age of 60, Form 15H was used instead.

However, this age-based distinction has now been abolished. If any individual wishes to claim a TDS exemption, they must submit Form 121 exclusively. Consequently, there will no longer be any confusion among the public regarding age-related criteria.

Where is Form 121 Used?
Form 121 enables taxpayers to claim TDS exemptions on income derived from sources such as EPF withdrawals, dividends, and interest earnings. Additionally, the individual's total income must fall below the prescribed taxable threshold. With the introduction of this form, taxpayers will no longer face confusion regarding which specific form to fill out in order to claim tax exemptions.

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