According to a report by The Economic Times, TCS has advised its employees not to make any payments towards the tax demands for now. The company’s HR department reportedly issued an internal email urging employees to hold off on paying the tax demands until further clarification is received from the Income Tax Department. The company stressed that it was actively seeking an explanation from the authorities regarding the issue and hoped to resolve the matter soon.
The notices appear to be connected to Tax Deducted at Source (TDS) deductions made in the fourth quarter of the financial year 2023-24. While no official statement has been made by TCS, reports suggest that the company is working with the Income Tax Department to investigate the discrepancy.
In a follow-up communication, sent on Friday, TCS informed its employees that the Income Tax Department will soon begin processing the tax returns of the affected staff members. Employees have been instructed not to settle any tax payments until the company provides further updates on the situation.
This unexpected tax demand has caused significant concern among the company’s workforce, as TCS strives to clarify the issue with tax authorities and ensure that its employees are not burdened with undue financial stress.
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