EPF withdrawal rules: Form 121 replaces Forms 15G and 15H from April 2026

From April 1, 2026, Form 121 will replace Forms 15G and 15H for eligible taxpayers seeking TDS relief on specified income, including qualifying EPF withdrawals. The new form is aimed at simplifying the process and reducing the burden on taxpayers. However, it is important to note that the use of Form 121 does not automatically make taxable withdrawals tax-free.