E-Paper
TCS India employees get tax notices, firm asks them to wait before paying: Report
TCS employees received tax notices for TDS discrepancies. The company advises them to await instructions, with amounts ranging from ₹50,000 to ₹1.5 lakh.
Several Tata Consultancy Services (TCS) employees reportedly received tax notices from the income-tax department over alleged discrepancies in their tax deduction at source (TDS) claims.
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Moneycontrol reported citing sources in the know that the company has asked the employees to wait for further instructions before paying the demanded amount which varies from ₹50,000 to ₹1.5 lakh.
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“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 intimations, the discrepancies should be resolved,” the company told its employees in an internal mail cited by the report.
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The report also claimed sources as saying that there is a possibility that authorities committed a mistake in processing the filed returns. The assessing officer has the power to amend the notice, it added.
In the mail, the company said tax authorities will reprocess the returns after which TDS would be in sync with Form 26AS issued by the department and Form 16A by TCS, the report noted.
