The Employees Provident Fund Organisation (EPFO) on April 13, 2026, issued a notification regarding the implementation of the New IT Act, 2025 – Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes.
The following has been stated: -
•With the implementation of the Income-tax Act, 2025, effective from April 01, 2026, Forms 15G and 15H have been replaced by a consolidated Form 121 for claiming TDS exemption.
•Resident taxpayers can submit this form only if their estimated tax liability is nil, though submission is optional.
•The payer is required to generate a Unique Identification Number (UIN) for each Form 121 and report it in monthly statements as well as quarterly TDS returns.
•Until an online system is available, physically signed forms can be used for compliance.
•Non-compliance, such as missing UINs, may attract penalties, and offices must ensure proper implementation while also collecting Form 121 even where Form 15G/15H was already submitted.
The detailed notification is given in the document below.
[Notification No.: WSU/TDS Issues/E-772040/2026-27/11]
