TDS Demand: The Income Tax Department has sent a demand of Rs 50,000 to Rs 1 lakh to TCS employees. The company told the employees that a solution will be found soon.
Income Tax Notice For TCS Employees: The Income Tax Department has sent a demand notice to those working in the country’s largest IT company Tata Consultancy Service (TCS). In the notice, these people have been asked to pay TDS. According to the news published in the Times of India, according to an estimate, 30000 to 40000 employees of TCS have received a notice related to tax demand. It is being told that this has happened due to some technical glitch in the company’s computer. It is being told that due to this the company could not give the correct information to the Income Tax Department.
Notice sent to TCS employees on 9 September
The company employees are facing a lot of trouble due to the tax demanded by the department. In the notice, a demand of Rs 50 thousand to Rs 1 lakh has been made. The tax figure is based on the seniority and salary of the employee. Due to a problem in the software, the TDS claim could not be updated on the Income Tax portal. TCS has currently asked its employees not to pay any kind of tax. This notice related to tax has been sent to TCS employees on 9 September.
The department did not update the TDS properly
The notice issued under section 143(1) said that there was no record of the entire amount paid by the taxpayer for the March quarter of the financial year 2024. CA Himanshi Singla wrote on X that many TCS employees have received a notice related to tax demand for the assessment year 2024-25 from the Income Tax Department. Investigation of the notice sent by the department revealed that the TDS claimed by the taxpayer was not updated properly by the department.
Also Read- Rules for Bank Recovery Agents: Bank recovery agent cannot harass you, know RBI rules
Work is being done on the solution at a fast pace
Receiving these notices has created concern among the employees. TCS has not given any statement on the notice received from the Income Tax Department. The company has asked the employees through an email to wait for any payment of the amount. The company also said that it has brought the matter to the attention of the tax authorities and its solution is being worked on expeditiously.
In the internal communication shared by TCS with the employees, the employees were told that they have received clarification from the tax officials. The email sent to the employees said, ‘We understand that the returns will be re-processed by the tax officials. After this, Form 26AS issued by the TDS Income Tax Department and Part One of Form-16 issued by TCS will be synced.’
Related Articles:-
Vande Bharat Metro: First Vande Bharat Metro to run on this route, Check route, fare and timing
Nippon India MF launches Nifty 500 Momentum 50 Nifty Index Fund, should you invest?
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
