New Delhi, May 25 -- If you are planning to withdraw money from your Employees' Provident Fund (EPF) account before completing five continuous years of service, then tax deducted at source (TDS) may apply if the withdrawal amount exceeds Rs.50,000. However, there are some exemptions and eligible EPF members can avoid such deductions by submitting the required declarations.

This exemption applies to those whose estimated tax liability for the financial year is nil. Such taxpayers can submit a declaration in 'Form 121' under the Income Tax Act, 2025 to ensure that there is no TDS on your eligible income.

Earlier there were two forms that served the same purpose but for people of different age groups. Both Form 15G and Form 15H have now be...