Central

Labour Code

Circular on Implementation of the New IT Act, 2025 – Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes

Central published this gazette notification (Gazette ID: central-circular-on-implementation-of-the-new-it-act-2025-transition-from-form-15g-15h-to-consolidated-form-121-for-tds-exempted-i) on 2026-04-13, filed under Labour Code. The purpose of this notification is to facilitate a smoother and more efficient process for individuals and organizations to claim TDS exemptions under the New IT Act, 2025.

Issue Date
Published
Gazette ID central-circular-on-implementation-of-the-new-it-act-2025-transition-from-form-15g-15h-to-consolidated-form-121-for-tds-exempted-i
Category Labour Code
Statutory Compliance Summary Compliance Deadline: 2026-04-13

Action Required

Employers and HR departments must update their systems and processes to use the Consolidated Form 121 for TDS-exempted incomes, ensuring compliance with the New IT Act, 2025. They should also educate their employees on the new form and its usage.

Target Roles:
HR DirectorPayroll ManagerCompliance OfficerEmployer
Industries Impacted:
All

Statutes & Rules Amended

  • New IT Act, 2025
  • Form 15G
  • Form 15H
  • Consolidated Form 121

Compliance Impact

Action RequiredEmployers and HR departments must update their systems and processes to use the Consolidated Form 121 for TDS-exempted incomes, ensuring compliance with the New IT Act, 2025. They should also educate their employees on the new form and its usage.
Compliance Deadline

Purpose

The purpose of this notification is to facilitate a smoother and more efficient process for individuals and organizations to claim TDS exemptions under the New IT Act, 2025.

Summary

The Central Government has issued a circular regarding the implementation of the New IT Act, 2025, which involves transitioning from Form 15G/15H to a Consolidated Form 121 for TDS-exempted incomes. This change aims to simplify the process of claiming exemptions from Tax Deducted at Source (TDS) for certain types of income.

Frequently Asked Questions

Which ministry issued this gazette notification (central-circular-on-implementation-of-the-new-it-act-2025-transition-from-form-15g-15h-to-consolidated-form-121-for-tds-exempted-i)?
Central issued this notification, published on 2026-04-13.
What is Gazette Notification central-circular-on-implementation-of-the-new-it-act-2025-transition-from-form-15g-15h-to-consolidated-form-121-for-tds-exempted-i about?
The purpose of this notification is to facilitate a smoother and more efficient process for individuals and organizations to claim TDS exemptions under the New IT Act, 2025.
Where can I find the official PDF for this notification?
The official notification is published by the respective State Government and is linked directly from this page for your reference and download.
What compliance action is required under Gazette Notification central-circular-on-implementation-of-the-new-it-act-2025-transition-from-form-15g-15h-to-consolidated-form-121-for-tds-exempted-i?
Employers and HR departments must update their systems and processes to use the Consolidated Form 121 for TDS-exempted incomes, ensuring compliance with the New IT Act, 2025. They should also educate their employees on the new form and its usage. The compliance deadline is 2026-04-13.
Who is impacted by Gazette Notification central-circular-on-implementation-of-the-new-it-act-2025-transition-from-form-15g-15h-to-consolidated-form-121-for-tds-exempted-i?
This notification primarily targets HR Director, Payroll Manager, Compliance Officer, Employer across the All sector(s).