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EPF Withdrawal: Form 121 Replaces Forms 15G and 15H for TDS Exemption
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Moneycontrol•09-10-2026, 13:39
EPF Withdrawal: Form 121 Replaces Forms 15G and 15H for TDS Exemption
- •The Employees Provident Fund Organisation announced that Forms 15G and 15H are no longer valid for claiming TDS exemption on EPF withdrawals starting from the tax year 2026-27.
- •Subscribers must now submit Form 121 under the Income-tax Act, 2025, to claim TDS exemption if their estimated total income results in nil tax liability.
- •The shift to Form 121 is a procedural simplification under the new tax act, allowing eligible resident taxpayers to submit a consolidated declaration instead of older age-based forms.
- •A valid PAN is strictly required for the submission to be valid, and non-residents or individuals with actual tax liability cannot use this option.
- •EPFO field offices will issue a unique identification number for every Form 121 received to ensure transparent and traceable online reporting.
Key Questions Answered
Starting from the tax year 2026-27, subscribers must submit Form 121 under the Income-tax Act, 2025, to claim TDS exemption on EPF withdrawals. Forms 15G and 15H are no longer valid for this purpose.
No, Form 121 does not make a withdrawal tax-free. It only allows eligible individuals with an estimated nil tax liability for the year to request that tax not be deducted at source.
Form 121 is optional and available to eligible resident taxpayers whose estimated total income results in nil tax liability. It is not available to non-residents or individuals with an actual tax liability, and a valid PAN is mandatory.
