TCS Employees - Rightsofemployees.com

TCS employees received tax notices for TDS discrepancies

Jyoti — Fri, 13 Sep 2024 11:04:39 +0000

Employees of TCS have received a notice from the Income Tax Department to pay tax. It is said that this has happened due to a mistake in processing the income tax returns of the employees by the Income Tax authorities. The company has currently asked the employees not to pay tax.

Many employees of Tata Consultancy Services (TCS) have received a demand notice from the Income Tax Department. The reason for this is some problem in the TDS claim. TCS has currently asked its employees not to pay tax. They have been asked to wait till further instructions. This tax demand ranges from Rs 50,000 to Rs 1.5 lakh. Sources have given this information. TCS is India’s largest IT company. Its headquarters is Mumbai.

Has there been an error in processing the ITR?

TCS has said in an email sent to its employees that the associates who have received this notice will get a further intimation regarding the correction of the mistake. Therefore, they do not need to pay tax. The company has said that this error will be rectified after the tax authorities send the Rectification Intimation. Sources said that there is a possibility that there has been a mistake in the processing of the income tax return filed by the authorities. The assessing officer has the right to amend the notice.

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Will reprocessing the return correct the mistake?

In a mail sent to employees, the company has said that the authorities will reprocess the income tax returns, which will eliminate the data discrepancy between Form 26AS issued by the Income Tax Department and Form 16A issued by TCS. Form 26AS issued by the Income Tax Department contains details of tax deducted from the source of income (TDS/TCS). Form 16A contains information about tax deducted from salary by the employer.

Can employees take advice from tax advisors?

TCS has said in another email that if employees wish, they can consult their tax advisors or contact the company. Moneycontrol has contacted the company for more information on this. This news will be updated when a response is received. According to section 154 (2) of the Income Tax Act, the Income Tax Department can amend the notice in two ways. First, it can take the initiative on its own. Second, it can amend on the application of the assessee or tax deductor.

TCS New Policy: 70% TCS employees started working from office, Impact of new policy regarding variable pay visible

Pravesh Maurya — Fri, 12 Jul 2024 05:00:09 +0000

Tata Consultancy Services (TCS) linked the attendance of employees to variable pay under the new policy. After this, about 70 percent of the company’s employees have returned to the office.

Milind Lakkad, Chief HR Officer of the company, says that this measure is a temporary step and should be seen as such. In April 2024, TCS linked the quarterly variable payout of employees to their attendance in the office.

Those with less than 60 percent attendance will not be eligible for quarterly bonus. Earlier, TCS had made it mandatory for employees to work from office 5 days a week by ending work from home.

Minimum 85% attendance is required in the office

Under the new policy, employees must have a minimum of 85 percent attendance in the office to receive full quarterly variable pay. Also, disciplinary action can be taken if this is not followed consistently. Employees with 75-85 percent attendance will get 75 percent of their variable pay, while employees with 60-75 percent attendance will get only 50 percent of their variable pay.

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The number of people coming to the office is increasing every week

After releasing TCS’ April-June 2024 quarter financial results, Lakkad said, “Today, about 70 percent of our employees are back in the office. I am not very worried about how many people are not coming to the office and getting affected by it. I would say this number is increasing every week.” Lakkad further said that some are coming to the office for the first time as they were associated with the company during the pandemic. Everyone has to look at it positively.

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TCS Employees: TCS upset with those not coming to office, employees will not get variable pay

Pravesh Maurya — Tue, 23 Apr 2024 02:03:59 +0000

TCS employees: According to the new policy of the company, those employees whose attendance is less than 60 percent will not get quarterly bonus. That means those people are going to suffer loss this time.

TCS variable pay news: The country’s leading IT company TCS has now issued a new rule. According to the new policy of the company, those employees whose attendance is less than 60 percent will not get quarterly bonus. That means those people are going to suffer loss this time.

The IT firm had recently asked employees to come to office five days a week. The company had made work from office mandatory for its employees, but even after that many people are not coming to office.

According to the report of Times of India, it has been said in the new policy that those employees who have not come to office will not get quarterly bonus. To avail the benefit of quarterly bonus, your office attendance should be between 60 to 75%. Employees whose attendance in office is between 75 to 85 percent will be given 75 percent variable pay. Apart from this, those employees whose compliance level is above 85 percent will get full variable pay.

Who will get how much? Variable-

>> Those who come to office less than 60% of the days will not get any variable pay.
>> Apart from this, employees whose attendance is between 60 to 75% will get 50% variable pay.
>> Employees whose attendance is between 75 to 85% will get 75% variable pay.
>> All employees whose attendance is 85% will get full variable pay.

Decline in number of employees

TCS was listed in the year 2004. For the first time in the last 19 years, there has been a decline in the number of employees throughout the year. On a year-on-year basis, the company’s employee count declined by more than 13,249 for the financial year. At the same time, on a sequential basis, the number of employees decreased by 1,759.

Number of employees in 2013 614,795

Compared to FY23, the company’s headcount growth was quite disappointing. The total number of employees in FY 2013 was 614,795 and the company had a net increase of 22,600 employees for the full year. Along with this, the company also gave jobs to freshers through campus placement.

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