New Delhi: Several employees of Tata Consultancy Services (TCS) have reportedly received tax notices from the income tax department, raising concerns over discrepancies in their Tax Deduction at Source (TDS) claims.
The company has advised these employees to hold off on making any payments with the amounts in question ranging from Rs 50,000 to Rs 1.5 lakh, according to sources cited by Moneycontrol. TCS has assured its staff that further instructions will be provided soon to resolve the mater.
“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,” In an internal email referenced by the report, the company informed its employees about the situation.
The report suggested that authorities may have made an error while processing the filed tax returns. It mentioned that the assessing officer has the authority to amend the notice. In the email, TCS informed employees that the tax authorities would reprocess the returns, aligning the TDS with both Form 26AS from the department and Form 16A issued by the company.