TCS Employees Receive Notices From IT Department
The intimation necessarily serves as a preliminary assessment of the taxpayer's ITR filed for a particular FY. The tax demand received by various employees spans from Rs 50,000 to Rs 1,45,000.
Employees of Tata Consultancy Services have received tax demand notices from the Income Tax department over Tax Deducted at Source claims.
On Sept. 9, employees in the organisation across domains received an intimation under Section 143(1) of the IT Act, stating that there was no record for the full amount paid by the assessee for Q4 FY24. Further, the notice said that the non-recorded amount, along with interest and charges, was to be paid.
The intimation necessarily serves as a preliminary assessment of the taxpayer's income tax return filed for a particular financial year. The tax demand received by various employees spans from Rs 50,000 to Rs 1.45 lakh.
“This could be a system glitch. The TDS claim is not automatically getting updated on the portal, so we had to enter manually," one of the employees NDTV Profit spoke to said. "Now, we have received an intimation for payment of a portion of the tax there is no record for. Due to this, our income tax refunds will be further delayed.”
“We understand that the tax authorities will be reprocessing the returns, post which TDS shall be in sync with Form 26AS issued by the Income Tax Department and Form 16 Part A issued by TCS," the company told its employees in an internal email.
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, it added.
