# Form 121 replaces 15G and 15H for EPF withdrawal TDS 2026-10-08T13:37:29+00:00 | Governance | Indian Opinion Desk Corroboration: 1 independent outlet EPFO members withdrawing their Employees’ Provident Fund before completing five years of continuous service must use Form 121 to claim exemption from tax deducted at source from tax year 2026-27. EPFO said the form replaces Forms 15G and 15H. Under Section 192A of the Income-tax Act, 2025, TDS is deducted at 10% when such withdrawals exceed Rs 50,000. Form 121 declares that the taxpayer’s liability on estimated total income for the relevant tax year is nil. Individuals, Hindu Undivided Families and other eligible entities can file it, but companies, firms and non-residents cannot. EPF members should check their withdrawal amount, service period and annual income before submitting the form. ## Indian Opinion Analysis The change affects EPF members seeking to avoid TDS on withdrawals made before five years of continuous service. The exemption is not automatic, since eligibility depends on the withdrawal amount, service period and annual income. A withdrawal exceeding Rs 50,000 attracts TDS at 10% under Section 192A, unless the statutory declaration applies. Form 121 also covers specified income such as interest on bank and post office deposits, but companies, firms and non-residents are excluded. The immediate step for an eligible member is to assess these conditions before filing the withdrawal claim under the 2026 rules. ## Coverage - economictimes.indiatimes.com Explains eligibility, tax rate and exclusions without taking a position This brief was synthesised by AI from the source linked above. Tags: Employees Provident Fund, EPFO, Form 121, Income Tax Act Canonical: https://indianopinion.org/form-121-replaces-15g-and-15h-for-epf-withdrawal-tds/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/form-121-replaces-15g-and-15h-for-epf-withdrawal-tds/#story-in-brief How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/