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EPF Withdrawal Rules Change: Form 15G and 15H Replaced by New Form 121 for TDS Exemption
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News18•11-10-2026, 17:55
EPF Withdrawal Rules Change: Form 15G and 15H Replaced by New Form 121 for TDS Exemption
- •The Employees Provident Fund Organisation has discontinued Form 15G and Form 15H for TDS exemption on EPF withdrawals starting from the financial year 2026-27.
- •Eligible members must now submit the new Form 121 under the provisions of the Income Tax Act 2025 to claim tax exemption.
- •The new joint declaration form is intended for resident Indian taxpayers whose estimated total annual income tax liability is completely zero.
- •A valid Permanent Account Number is mandatory for submitting Form 121, failing which TDS will be deducted at a higher rate.
- •EPFO has introduced online submission and e-sign facilities along with unique identification numbers for better transparency and tracking.
Key Questions Answered
Starting from the financial year 2026-27, Forms 15G and 15H have been discontinued and replaced by a single consolidated Form 121 under the Income Tax Act, 2025.
Form 121 can be submitted by resident Indian taxpayers whose estimated total annual income has a tax liability of completely zero for that financial year.
A valid Permanent Account Number (PAN) is mandatory to submit Form 121; without it or if entered incorrectly, the declaration is considered invalid and TDS is deducted.
