The country’s largest IT company Tata Consultancy Services (TCS) has now given the reason for the notices given to thousands of employees by the Income Tax Department. The company has also assured the affected employees that the issue will be resolved soon.
40 thousand employees received notices
It was claimed in the news that thousands of TCS employees have been sent demand notices by the Income Tax Department. Notices have been sent to the affected employees of TCS with tax demands ranging from Rs 50 thousand to Rs 1.45 lakh. It was claimed in the news that about 40 thousand employees of TCS have received notices from the Income Tax Department.
Returns will be processed again
Now the company has given the reason for receiving the notice in an internal email sent to the employees. The company has also assured the employees that the issue will be resolved soon. According to a report by Business Standard, TCS has assured the employees that their returns will be reprocessed by the Income Tax Department.
Due to this, income tax sent notice
According to Business Standard, in an internal email, the company has told the employees that the notices have been sent regarding the TDS deduction made in the fourth quarter of the financial year 2023-24. We have come to know that the returns will be re-processed by the tax authority. After that the data in Form-26AS issued by the Income Tax Department and Form-16 given to the employees by TCS will be matched.
No need to pay employees
According to TCS, the employees who have received notices from the Income Tax will soon get a rectification intimation. The affected employees do not need to pay the demand made in the tax notice. After receiving the rectification intimation, the errors will be resolved, because after that the Income Tax Department is going to re-process the income tax returns of all the concerned employees.
Also read: Thousands of TCS employees in trouble, Income Tax Department issues notices worth lakhs
