Income tax notices sent to TCS employees are a 'discrepancy,' ITRs will be reprocessed: Report

TCS said that the employees who received the income tax notices will get a intimation of rectification soon and don't have to pay any demand amount

IT major Tata Consultancy Services (TCS) called the recent tax demand notices its employees received as a “discrepancy,” and that the income tax department will reprocess the returns.

About 40,000 TCS employees received income tax notices, with tax demands ranging from ₹50,000 to 1 lakh, depending on the salary and seniority.(Bloomberg)

What are these tax notices at TCS about?

About 40,000 TCS employees received income tax notices, with tax demands ranging from ₹50,000 to 1 lakh, depending on the salary and seniority.

Have the tax notice issues at TCS been resolved?

“We understand that the tax authorities will be reprocessing the returns, following which the TDS shall be in sync with Form 26AS issued by the Income-Tax Department, and Form 16 Part A issued by TCS, a Business Standard report quoted an internal communication by TCS to its employees as saying.

The communication also added that TCS has received clarification from the Income Tax Department on the matter.

"Associates who 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 message read.