Attention Indian taxpayers! The Income Tax Act has introduced significant changes with the transition of Forms 15G and 15H to Form 121. These self-declaration forms are crucial for Indian residents who wish to avoid Tax Deducted at Source (TDS) on their interest income from fixed deposits (FDs), recurring deposits (RDs), dividends, and EPF (Employee Provident Fund) withdrawals.
By filing Form 121, you can prevent TDS deductions if your total annual income falls below the taxable threshold. Staying informed about these updates can help you maximize your earnings and ensure compliance with the latest tax regulations. Make sure to understand the new provisions under the Income Tax Act, 2025, and take advantage of this opportunity to safeguard your income!
