EPFO replaces Forms 15G and 15H with Form 121 for withdrawal TDS relief

From 1 April 2026, EPF members seeking relief from tax deducted at source must use Form 121, but the declaration does not make taxable withdrawals tax-free.

EPFO members planning to make a provident fund withdrawal will now need to use Form 121, as the retirement fund body has replaced Forms 15G and 15H with a single declaration for people seeking relief from tax deducted at source, or TDS. The change took effect on 1 April 2026 and applies from the 2026-27 financial year, according to reporting by ABP Live and Mint.

The practical aim is to simplify paperwork. Until now, savers under 60 generally used Form 15G, while eligible senior citizens filed Form 15H. Under the new system, one form covers eligible taxpayers regardless of age, which means the declaration process is meant to be more uniform and easier to administer, according to Mint and Moneycontrol.

Even so, the new form does not make every EPF withdrawal tax-free. ABP Live reported that Form 121 is a declaration that the member’s estimated income will not create a tax bill for the year, but that is different from a blanket exemption. If a withdrawal is otherwise taxable under the income-tax rules, filing the form will not erase that liability. Patron Accounting and other tax explainers have also noted that the form is designed for people whose estimated tax on total income is nil, provided they meet the conditions set out in the law.

Another important point is that the declaration lasts only for the financial year in which it is filed. That means anyone wanting TDS relief in a later year will need to submit a fresh Form 121, assuming they still qualify. For EPF members, the sensible approach is to check both their likely income for the year and the latest EPFO and tax rules before relying on the form, because the difference between avoiding TDS and being exempt from tax can be significant.