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[ad_1] TCS employees receive tax demand notices! The Income Tax Department has issued demand notices to a significant number of TCS employees, ranging from 30,000 to 40,000 individuals, due to discrepancies in their tax deducted at source (TDS) claims. The tax demand varies from Rs 50,000 to over Rs 1 lakh, depending on the employee's seniority within the company.The issue seems to have stemmed from a software glitch that caused TDS claims to not be updated on the income-tax portal, according to a TOI report. The notices, which were issued on September 9 under Section 143(1) of the IT Act, said that there was no record of the full amount paid by the assessee for the March quarter of FY24. CA Himank Singla shared on X, "Many employees of Tata Consultancy Services are getting tax demands from the I-T department for the AY 2024-25. On checking 143(1) intimations sent by the department, the TDS claimed by the assessee has not been correctly updated by the department and he...

[ad_1] MUMBAI: Tata Consultancy Services (TCS) is not considering any layoffs as it believes in grooming talent for longer careers once it hires an employee, a top official has said. The country's largest information technology services exporter is also looking to hire startup employees who have lost their jobs, its chief human resources officer Milind Lakkad told PTI in an interview. The comments have come amid IT companies, including big tech giants, the world over laying off people due to a slew of reasons. “We don't do that (layoffs), we believe in grooming talent in the company…(there will be) no layoffs,” Lakkad said, replying to a specific question on whether there will be layoffs or involuntary attrition. He said many companies are forced to take such a step because they hired more than they wanted while the “cautious” TCS believes that once a staff member joins, it is the company's responsibility to make them productive and derive value. In cases where it fi...