The Employees' Provident Fund Organisation (EPFO) on April 13, 2026, issued notification on Implementation of the New IT Act, 2025 – Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes.
With the introduction of the Income-tax Act, 2025, effective April 1, 2026, the erstwhile Forms 15G and 15H have been replaced by a single consolidated declaration — Form 121. This form is to be used by resident taxpayers whose expected final tax liability for the year is NIL and who wish to avoid Tax Deducted at Source (TDS). Filing Form 121 is not mandatory and is intended only for those who do not want tax deducted at source. The declarant must complete Part A and sign the form, while Part B is to be filled by the Payer (Regional Office).
Every Form 121 received must be assigned a Unique Identification Number (UIN) by the Regional Office, comprising a sequence number, tax year, and the TAN of the payer. A consolidated statement of all Forms 121 received in a month must be uploaded on the IT Department's e-filing portal by the 7th of the following month, and UINs must be quoted in the Quarterly TDS Return in Form No. 140. UINs are to be generated on a running-number basis with effect from April 1, 2026. Non-compliance, including missing UINs or incorrect reporting, may attract penalties under the new Act.
Until an online digital e-signing facility is made available by ISD, physically signed Form 121 uploads will be accepted in lieu of Forms 15G/15H. All Zonal and Regional Offices are advised to sensitize eligible members to submit Form 121 accordingly. Importantly, claims already filed with Form 15G/15H from April 1, 2026 onwards should not be returned — instead, Form 121 should be separately collected from the concerned members.
[Notification No. WSU/TDS Issues/E-772040/2026-27/11]
