A new form is coming for those seeking exemption from Tax Deducted at Source (TDS). Form 121 will replace Form 15H, which is currently filed by senior citizens, as well as Form 15G, used by individuals under 60 years of age.
The change aims to streamline the process, but it’s important to understand the updates to avoid mistakes when filing for the financial year 2026-27.
Tax experts recommend carefully reviewing the new requirements for Form 121 to ensure accurate filing and to continue receiving applicable TDS exemptions.