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Tax notices to employees are a 'discrepancy', ITRs to be reprocessed: TCS

Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a “discrepancy,” and the tax department will be reprocessing the returns. Around 40,000 TCS employees received these notices, with the tax demands ranging from Rs 50,000 to 1 lakh, depending on their seniority within the company. “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. 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,” an internal communication by TCS to its employees reviewed by Business Standard revealed. The company added, “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.”