As per the Income Tax Act of 1961, financial institutions like Bajaj Finance must deduct TDS if the interest income of customers investing in FDs exceeds Rs. 40,000 in a financial year (this limit is ...

Ideally, these forms should be submitted before the start of the financial year for which TDS is to be deducted or before the first income payment which is subject to TDS. (Image: Reuters) Question: ...

New Income Tax Forms 2026: From April 1, 2026, India’s income tax system gets a major reset with new forms under the Income-tax Rules, 2026. Form 121 replaces Forms 15G and 15H, creating a single ...

India’s Income-Tax Act 2025 has replaced Forms 15G and 15H with a unified Form 121 from April 1, 2026, for TDS exemption declarations. The single form removes age-based distinctions, supports digital ...

If you invest in certain instruments like bank fixed deposit, recurring deposit and corporate deposit, the interest you earn is taxed. Banks and post offices will deduct TDS (Tax deducted at source) ...

EPFO update: Form 121 replaces 15G and 15H - What EPF members must know about new TDS rules (AI-generated image) In a significant compliance change aligned with the new tax regime, the Employees ...

The Employees’ Provident Fund Organisation (EPFO) has introduced a new compliance framework following the rollout of the Income-tax Act, 2025, replacing the widely used Form 15G and Form 15H with a ...

On 31 May, the Reserve Bank of India (RBI) issued a notice stating that banks should give a receipt of acknowledgement to customers when they submit Form 15G/15H while making a fixed deposit (FD).