The Income Tax Act, 2025 has replaced Forms 15G and 15H with a unified Form 121 for TDS exemption claims, applicable from April 1, 2026. Taxpayers with income below the taxable limit must submit it ...

Taxpayers and businesses must comply with several important filing and reporting deadlines throughout May 2026, including TDS ...

Form 121: A new combined form, now replaces Forms 15G and 15H. This simplifies the process for individuals and senior citizens to declare income below taxable limits. Eligible taxpayers can now use ...

Key dates include May 7 for depositing TDS/TCS for April and filing declarations under the Income-tax Act, May 15 for issuing ...

Income Tax Department launches upgraded TRACES portal with new TDS forms and a single tax year, simplifying compliance and boosting transparency for taxpayers ...

Not filing an ITR leads to missing out on refunds where TDS was already deducted on FDs, salary, or freelance income.

India’s Income-Tax Act 2025 has replaced Forms 15G and 15H with a single Form 121 from April 1, 2026, unifying TDS exemption declarations for all eligible resident taxpayers. The form applies to ...