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TCS has actually additionally notified the tax obligation authorities concerning the issue.
The tax obligation needs vary from Rs 50,000 to over Rs 1 lakh, depending upon the staff member’s standing.
TCS workers obtain tax obligation notifications! The Income Tax Department has actually provided need notifications to a considerable variety of TCS workers, in between 30,000 and 40,000 individuals, since their Tax Deducted at Source (TDS) information do not match.
The tax obligation needs vary from Rs 50,000 to over Rs 1 lakh, depending upon the staff member’s standing in the firm. According to a record in TOI, the issue appears to be because of a software program problem that caused the TDS applications not obtaining upgraded on the earnings tax obligation website.
The notifications, provided on September 9 under Section 143( 1) of the IT Act, state that the quantity paid by the taxpayer for the March quarter of FY24 was not taped completely.
CA Himank Singla informed X, “Many employees of Tata Consultancy Services are getting tax demands from the I-T department for the AY 2024-25. On checking 143(1) intimations sent by the department, the TDS claimed by the assessee has not been correctly updated by the department and hence refunds are being withheld.”
TCS decreased to talk about the issue when spoken to by TOI by means of e-mail. The firm has actually connected to its workers and encouraged them to wait on additional guidelines prior to making the settlements discussed in the notification.
TCS has actually additionally notified the tax obligation authorities concerning the issue and is dealing with them to locate a quick resolution.
In an interior interaction, TCS has actually notified its workers that they have actually obtained an explanation from the tax obligation authorities.
The e-mail states, “We understand that the tax authorities will be reprocessing the returns, post which TDS (tax deduction at source) shall be in sync with form 26AS issued by the income-tax department, and Form 16 Part A issued by TCS,” it stated. “Associates that received the notice will receive a rectification intimation in due course and are not required to pay any demand amount. Once the tax authorities send the rectification intimation, the discrepancies should be resolved”, it included.
