TCS workers obtain tax demand notices! The Revenue Tax Division has issued demand notices to a major variety of TCS workers, starting from 30,000 to 40,000 people, resulting from discrepancies of their tax deducted at supply (TDS) claims.
The tax demand varies from Rs 50,000 to over Rs 1 lakh, relying on the worker’s seniority throughout the firm.The difficulty appears to have stemmed from a software program glitch that brought on TDS claims to not be up to date on the income-tax portal, in accordance with a TOI report.
The notices, which had been issued on September 9 below Part 143(1) of the IT Act, stated that there was no report of the total quantity paid by the assessee for the March quarter of FY24.
CA Himank Singla shared on X, “Many workers of Tata Consultancy Companies are getting tax calls for from the I-T division for the AY 2024-25. On checking 143(1) intimations despatched by the division, the TDS claimed by the assessee has not been accurately up to date by the division and therefore refunds are being withheld.”
TCS has declined to touch upon the matter when contacted by TOI through electronic mail. Nonetheless, the corporate has communicated with its workers, advising them to attend for additional directions earlier than making any funds talked about within the discover.
TCS has additionally knowledgeable the tax authorities concerning the problem and is working with them to resolve it rapidly.
In an inner communication, TCS has knowledgeable its workers that they’ve acquired clarification from the tax authorities.
The e-mail says, “We perceive that the tax authorities will likely be reprocessing the returns, put up which TDS shall be in sync with Type 26AS issued by the earnings tax division and Type 16 Half A issued by TCS.”
The corporate is actively working in direction of resolving the problem and making certain that the discrepancies are rectified.
The tax demand varies from Rs 50,000 to over Rs 1 lakh, relying on the worker’s seniority throughout the firm.The difficulty appears to have stemmed from a software program glitch that brought on TDS claims to not be up to date on the income-tax portal, in accordance with a TOI report.
The notices, which had been issued on September 9 below Part 143(1) of the IT Act, stated that there was no report of the total quantity paid by the assessee for the March quarter of FY24.
CA Himank Singla shared on X, “Many workers of Tata Consultancy Companies are getting tax calls for from the I-T division for the AY 2024-25. On checking 143(1) intimations despatched by the division, the TDS claimed by the assessee has not been accurately up to date by the division and therefore refunds are being withheld.”
TCS has declined to touch upon the matter when contacted by TOI through electronic mail. Nonetheless, the corporate has communicated with its workers, advising them to attend for additional directions earlier than making any funds talked about within the discover.
TCS has additionally knowledgeable the tax authorities concerning the problem and is working with them to resolve it rapidly.
In an inner communication, TCS has knowledgeable its workers that they’ve acquired clarification from the tax authorities.
The e-mail says, “We perceive that the tax authorities will likely be reprocessing the returns, put up which TDS shall be in sync with Type 26AS issued by the earnings tax division and Type 16 Half A issued by TCS.”
The corporate is actively working in direction of resolving the problem and making certain that the discrepancies are rectified.
