TCS Employees Receive Income Tax Notices Over TDS Claims: Potential System Glitch Suspected

By: Admin
September 13, 2024
Categories: TAX News | 4 Min Read

Tata Consultancy Services (TCS) employees have received tax demand notices from the Income Tax Department regarding discrepancies in Tax Deducted at Source (TDS) claims. On September 9, employees across various domains were notified under Section 143(1) of the IT Act, highlighting a mismatch in TDS records for Q4 FY24.

The notices, which are part of a preliminary assessment of the employees’ income tax returns, demanded payments ranging from Rs 50,000 to Rs 1.45 lakh for amounts not recorded. Some employees believe this could be a system glitch, as TDS claims were manually updated due to the failure of automatic updates on the portal.

TCS has reassured employees that the tax authorities will reprocess the returns, syncing the TDS with Form 26AS and Form 16 Part A. Employees are advised not to pay the demand, as rectification intimations will be sent out soon to resolve the discrepancies.

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