The Employees’ Provident Fund Organisation (EPFO) has introduced an important update for taxpayers. Forms 15G and 15H will soon be replaced by a new Form 121.
Earlier, many people used Forms 15G and 15H to avoid TDS (tax deduction at source). Now, Form 121 will take their place.
Even if you submit Forms 15G or 15H after April 1, 2026, they won’t be rejected—but you will still have to submit Form 121 as well.
Who Can Fill Form 121?
Form 121 is not meant for everyone.
Only the following people are eligible:
Individuals below 60 years of age
Business owners living in India
Hindu Undivided Families (HUFs)
Other eligible individuals whose total income is below the taxable limit
This form is basically a self-declaration that your income does not fall under the taxable category.
Who Cannot Fill Form 121?
Some categories are not allowed to use this form.
These include:
Non-Resident Indians (NRIs)
Companies and firms
So, if you fall into these categories, Form 121 is not applicable to you.
Unique ID Number (UIN) and Key Benefits
One major update is that every Form 121 will come with a Unique Identification Number (UIN).
This UIN will include important details like:
Serial number
Financial year
TAN (Tax Deduction Account Number)
The new form is designed to be simpler and more user-friendly compared to the older forms. This change is expected to make the process faster and more efficient for taxpayers.
