Salary Hike: Tata Consultancy Services (TCS), the leading IT company of Tata Group, has given a big relief to its employees. The company has announced a salary hike of 4.5 percent to 7 percent for most of the employees. According to the information, the company has started sending letters of increased salary to the employees from late Monday evening. This hike will be effective from September.

TCS had earlier announced layoffs In the last few months, TCS has been in the news for its HR decisions. Earlier, citing uncertain market conditions, the company had announced to postpone the salary hike. After this, layoffs of 2 percent employees (about 12,000 people) were suddenly announced.

However, now the company has decided to increase the salary of 80 percent of the employees, due to which enthusiasm is being seen among the employees. Salary of employees who performed well increased by 10 percent According to media reports, this increase has been given mostly to employees working in lower to mid-level positions.

At the same time, employees who have performed well have also got an increase of more than 10 percent. Experts believe that the company has taken this step to retain employees and handle the situation of falling morale.

In fact, the company had said in the June quarter results that its attrition rate (ratio of employees leaving the job) has increased to 13.8 percent. The official response from the company is yet to come, but the industry believes that this decision is a positive sign for a big company like TCS. This step will also prove to be encouraging for those employees who supported the company despite difficult circumstances.

Aadhaar Card update rules: Know how many times you can change the name, mobile number and address in your Aadhaar card?

The post Salary Hike : The biggest announcement of Tata Group company- increased the salary of its employees first appeared on Rightsofemployees.com.

EPFO had issued an Expression of Interest (EOI) on June 16, 2025. In this, the process of selection of a company was started which could implement and maintain the IT platform of EPFO for managing various social security schemes.

Three giant companies moved ahead

The post EPFO 3.0: TCS, Infosys & Wipro in the Race — Here’s What the New IT Platform Will Change for Yo first appeared on Rightsofemployees.com.

80 percent of staff will get a salary increase…

TCS Human Resources Officer Milind Lakdar and CHRO Designate K. Sudeep said in an email sent to employees on Wednesday that the salary hike will be effective from September 1.

TCS has taken this step with the aim of rewarding and retaining talent, at a time when the company has decided to lay off over 12,000 employees as part of its broader strategy to ‘future-proof the organisation’. The company says that for this, the focus will be on investment in technology, deployment of artificial intelligence (AI), market expansion and workforce restructuring.

Relief for employees…

It is worth noting that TCS has a grade structure, which starts with ‘Y’, which is given to the trainee. After this, the company’s staff positions go up to C1, C2, C3, C4, C5, and B and finally to CXO. Last week, market analysts had hinted that the salaries of the remaining employees after the layoffs may be increased. It is believed that other companies may also take a decision on the same lines in the future.

The post Big news for these employees, 80% of staff’s salaries will increase from next month… first appeared on Rightsofemployees.com.

According to PTI news, the company clarified that for second grade employees, QVA payment is determined by the performance of their respective business units, which is in accordance with TCS’s established policy for quarters.

Total revenue of ₹64,479 crore in the fourth quarter

According to the news, Tata Consultancy Services reported a 1.7 percent decline in net profit in the March quarter to Rs 12,224 crore, mainly due to margin contraction. It reported a total revenue of Rs 64,479 crore in the fourth quarter of the financial year, which is 5.3 percent higher than the same period last year. The company added 625 employees in the quarter, taking its total employee count to over 6 lakh.

The company had said regarding the salary of 6.07 lakh employees

While announcing its fourth quarter and FY25 earnings last month, TCS had said it would defer annual salary hikes for its 6.07 lakh employees due to business uncertainties created by tariff issues. The company’s chief human resources officer Milind Lakkad cited business uncertainties for the delay in the annual salary hike, which usually starts in April. The company did not give any information on when it would announce the salary hike.

AI does not mean job threat

Ashok Krish, global head of the artificial intelligence (AI) unit of Tata Consultancy Services (TCS), recently said that AI will drive the creation of new technologies and reshape the nature of work. He said that AI should be seen as a catalyst for skill transformation and not a threat to jobs.

The post TCS gave this 100% quarterly allowance to 70% of its employees, know how has been the performance of the company first appeared on Rightsofemployees.com.

There is useful news for taxpayers. Now you will have to pay 1% TCS (tax collected at source) on the purchase of luxury items like handbags, wristwatches, shoes, high-end sportswear and art objects worth more than Rs 10 lakh. Currently, TCS is being levied at the rate of one percent on motor vehicles worth more than Rs 10 lakh from January 1, 2025.

Notification of Income Tax Department

The Income Tax Department has notified the imposition of one per cent TCS on the sale of specified luxury goods exceeding Rs 10 lakh from April 22, 2025. TCS is collected from the buyer at the time of sale of specified goods and can be adjusted against the buyer’s tax liability while filing income tax returns.

Tax deduction at source does not generate any additional revenue, but it helps the tax department to detect high-value expenditure as PAN details have to be submitted at the time of purchase. The TCS provision for luxury goods and motor vehicles worth more than Rs 10 lakh was introduced in the Budget in July 2024 through the Finance Act, 2024.

Know what is the detail

The responsibility to collect TCS will be on the seller. This will apply to notified goods such as wristwatches, art objects such as paintings, sculptures and antiques, collectibles such as coins and stamps, yachts, helicopters, luxury handbags, sunglasses, shoes, high-end sports apparel and equipment, home theater systems and horses for race or polo, etc.

Sandeep Jhunjhunwala, tax partner, Nangia Andersen LLP, said that this notification reflects the government’s intention to increase monitoring of high-value discretionary expenditure and strengthen audit in the luxury goods segment. This notification reflects the broader policy objective of expanding the tax base and promoting greater financial transparency.

Related Articles:-

EPS for Gig workers: Government is going to provide social security and health benefits to gig workers

NPS account: Govt has changed the rules, these NPS accounts will be closed soon, know all details

Pahalgam Terrorist Attack: India shuts border with Pakistan after Pahalgam attack in Kashmir

The post New Tax Rules: Big news for taxpayers, now you will have to pay tax on these items, notification issued first appeared on Rightsofemployees.com.

The government has also changed the limit for TCS and TDS. Senior citizens, landlords and professionals providing technical services will benefit the most from this. Increasing the limit for TCS will benefit those traveling abroad and those who educate children abroad. Let us know about this in detail.

New rules for TDS on interest income

According to the new rule, interest income of up to Rs 1 lakh of senior citizens in a financial year will not come under the purview of TDS . Earlier its limit was Rs 50,000. This means that if you are a senior citizen and you get interest up to Rs 1 lakh on the money deposited in the bank in a financial year, then the bank will not deduct TDS on it . The bank will deduct TDS on it only if the interest income is more than Rs 1 lakh. For other people, this limit has been increased from Rs 40,000 to Rs 50,000.

New rules for TDS on house rent

The government has also increased the limit of TDS on rental income. It has been increased from Rs 2.4 lakh per annum to Rs 6 lakh. This means that if you pay rent up to Rs 50,000 per month to your landlord, then you will not need to deduct TDS on it. Currently, if the rent exceeds Rs 20,000, the tenant has to make the payment to the landlord after deducting TDS on it.

TDS on dividend income

TDS rules have also changed for investors of stocks and mutual funds. Now TDS will be deducted only if the dividend or income received from units of mutual funds or specific companies/undertakings is Rs 10,000. Currently this limit is Rs 5,000. The limit of TDS has also been increased to Rs 10,000 for interest received on debentures issued by a public company.

New TCS rules for sending money abroad

The government has also increased the limit of TCS in the case of Liberalised Remittance Scheme (LRS). Now if a person sends money abroad, an amount up to Rs 10 lakh will not come under the purview of TCS. Currently this limit is Rs 7 lakh. Apart from this, no TCS will be levied on sending money for education loan taken from certain institutions. Currently, a charge of 0.5 percent is levied if the amount of education loan is more than Rs 7 lakh.

Related Articles:-

• EPFO Interest Rate Hike: EPFO board fixes interest rate at 8.25 per cent on EPF deposits for 2024-25
• New Rule 1st March: It is Mandatory to declare nominee for Mutual fund and Demat accounts from 1st March
• PNB customers Alert: Update KYC before march 26, 2025 to avoid restrictions on account operations
• Blinkit New Service: Blinkit to deliver Apple products in 10 minutes in select cities
• UK govt has started a special “Visa Fraud to Bacho” campaign for Indian

The post New TDS & TCS Rules: Big news..! New rules of TDS and TCS will be implemented from April 1, know the new rule first appeared on Rightsofemployees.com.

According to media reports, this increment is expected to be between 4% to 8%. Earlier during the Covid-19 pandemic, salary hike was happening in double digits. But now it has fallen to single digit.

The pace of salary hike has slowed down than before

According to the news published in ET, due to global economic challenges, the pace of salary hike in the IT sector has slowed down. Earlier, during the time of Covid-19, IT employees were getting good hikes. According to the report, employees working in business verticals which have performed well will get good salary hikes. But the overall salary hike will not be very encouraging.

Plan to hire 40000 new freshers

In the financial year 2022 (FY22), TCS gave an average salary hike of 10.5% to its employees. After this, in the year 2024 (FY24) it came down to between 7-9%. Now in the year 2025, the salary hike is expected to decrease further to between 4-8%. As of December 2024, a total of 6,07,354 employees are working in TCS. The company is planning to hire 40,000 new freshers by March 2025. The company’s recruitment target for the financial year 2026 (FY26) will be even higher.

Bonus linked to return-to-office policy

TCS has linked the salary hike and bonus of its employees to the return-to-office (RTO) policy. In early 2024, the company had announced that employees would have to come to the office regularly. Employees who follow this policy can get benefits in salary hike and bonus. TCS reported a net profit of Rs 12,380 crore in the third quarter (October-December 2024) of the financial year 2024-25, showing a growth of 5.5% year-on-year (YoY).

During this period, the company’s revenue hike was 5.6% and it reached Rs 63,973 crore. On the basis of constant currency, TCS’s income increased by 4.5%. The country’s second largest IT company Infosys is also preparing to give salary hike to its employees. The company can issue increment letter by the end of February. The average salary hike in Infosys is likely to be between 5% to 8%. Infosys currently has more than 3.23 lakh employees.

Related Articles:-

• IMD Alert: There will be heavy rain in these states with thunderstorms in the next 48 hours
• SBI Jannivesh SIP: Invest Rs 250 per month…will get around 5 lakhs, Check Details
• School Time Change- Govt Has Changed The School Timings From Today – Check Details
• BJP’s Big Plan in Support of One Nation-One Election, Discussed in the Meeting
• Visa Free Travel: THIS Country Has Extended Visa Free Travel For Indian citizens For 2 Years – Know Details

The post TCS to roll out 4-8% salary hikes in March, know how much will be the benefit? first appeared on Rightsofemployees.com.

Earlier in the September quarter also, the company had given a big shock to the employees when some employees were given only 20-40 percent of the quarterly variable allowance (QVA) while some did not get anything at all, that is, they got zero percent quarterly variable allowance. Earlier in the June quarter, they had received about 70 percent QVA. In this matter, a TCS spokesperson said that he does not comment on speculation.

Full variable pay to junior employees

A source said that they were expecting 50-55 thousand QVA in the last quarter but got only half of it and now this quarter it is expected that they will get even less, about a quarter. Another source said that about 70 percent of the employees got nearly 100 percent QVA in the third quarter, most of which were junior employees. The remaining 30 percent senior employees got QVA according to the company’s business unit-wise performance.

what are the rules

Last year, TCS had linked variable pay to employees’ work from office attendance. Under the HR policy, a provision was made to give 100 percent variable pay to employees if at least 85 percent attendance is from the office. A provision was made to give 75 percent of the variable pay if 75-85 percent attendance is from the office, only 50 percent for 60-75 percent attendance and zero quarterly bonus if attendance is less than 60 percent.

What is the situation regarding salary hike?

The IT sector is facing the challenges of sluggish demand globally, which is also affecting the employees. However, talking about salary hike, TCS went ahead of Infosys and HCL Tech in this matter, which increased the salary from the first quarter of this financial year, while Infosys, HCL Tech and LTI Mindtree postponed it till the third quarter or later.

The company promoted more than 25 thousand employees in the December quarter and thus, in the financial year 2025, about 20 percent i.e. more than 1.10 lakh employees have been promoted so far. The company’s Chief HR Officer Milind Kakkar says that preparations are underway to hire more from campus. In the December quarter, the company’s total workforce decreased by 5370, which was a decline after two consecutive quarters of increase.

Related Articles:-

The post TCS Salary Cut: IT Major Slashes Variable Pay Of Senior Employees In Q3 – Key Details Inside first appeared on Rightsofemployees.com.

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.

Also Read: Ayushman Bharat enrollment for senior citizens to start in a week, check eligibility and application details

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.

Related Articles:-

RBI cancels Certificate of Registration of Four NBFCs

School Holiday Declared: Good news! 7 consecutive days holiday will start from this date, see notification here

EPS Pensioners: New rules regarding EPS Pension are being implemented from January 1. Check new rules details

The post TCS employees received tax notices for TDS discrepancies first appeared on Rightsofemployees.com.

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.

Also Read-

• New Banking Rules 2024: There will be many changes related to your kitchen, money and bank from May 1.
• TCS New Announcement: Now at least 60% attendance is necessary, otherwise there will be huge cut in variable pay.
• Gold-Silver Price Today: Gold becomes cheaper, price of silver also falls, know what is the rate of 22 carat gold today

The post TCS Employees: TCS upset with those not coming to office, employees will not get variable pay first appeared on Rightsofemployees.com.

TCS Work From Office Policy: Tata Group’s TCS has changed its variable-pay policy. The company has included work from office as an important factor in its variable-pay policy. TCS will pay less variable pay to those employees who come to office for fewer days. Under the new policy, four attendance slabs have been created, on the basis of which the amount of variable pay received by the employees will be decided. Know further about these slabs.

Who will get how much variable pay?

According to the new policy of TCS, employees who work from office for less than 60% of the days will not get any variable pay in the quarter.
Employees with office attendance between 60% to 75% will get 50% of variable pay.
Those who come to office 75-85% days will be given 75% variable pay.
Those with more than 85% office attendance will be given full variable pay for the quarter.

What is variable pay?

• Variable pay, also known as performance-linked pay, is given to employees on top of their regular salary. This is given to the employees according to their performance.
  Action on not coming to office
• According to TOI report, the new policy also warns that disciplinary action will be taken if work from office continuously remains below 85%. The company has said that the employees’ compliance with work from home will be reviewed every quarter.
• If an employee is found violating the set policy, it will impact his Annual Performance Review, compensation and career progress.

Also Read-

• Gold-Silver Price Today: Gold becomes cheaper, price of silver also falls, know what is the rate of 22 carat gold today
• Bank Holidays May 2024: Big news! Banks will remain closed for 12 days in May, check RBI holidays list
• Aadhaar card free update deadline: Know how to update Aadhaar details online with full process

The post TCS New Announcement: Now at least 60% attendance is necessary, otherwise there will be huge cut in variable pay. first appeared on Rightsofemployees.com.

TCS Q4 Result: Tata Group’s veteran software service provider company TCS has made two announcements simultaneously. Along with declaring the results for the fourth quarter of the financial year 2023-24, TCS has also announced increment for the employees. While announcing the salary increment of the employees, TCS HR Head Milind Lakkad said that like every year, this time too the employees performing well are getting double digit increment.

Increase of 12 to 15 percent

Earlier in the financial year, TCS had given 12 to 15 percent increase in salary and promotions to its high performing employees. The attrition rate has come down to 12.5 percent in the March quarter. Earlier in the quarter this rate was 13.3 percent. This is the first time in the last 19 years that a decline has been recorded in the number of TCS employees. This has happened after the listing in the stock market in 2004.

Results for the fourth quarter of 2023-24 declared

Earlier, the results for the fourth quarter of 2023-24 were announced by TCS. TCS said that in the January-March quarter of the financial year 2023-24, net profit increased by 9 percent to Rs 12,434 crore. The company said that its growth was due to better margins and strong performance of its Indian business. The country’s largest software service provider company had registered a profit of Rs 11,392 crore in the same period of the last financial year (2022-23). In this way, the net profit of the company increased by 9 percent to Rs 45,908 crore in the entire financial year 2023-24.

The company received new orders worth $13.2 billion

In the quarter under review, the company was successful in increasing its sales margin by 1.5 percent to 26 percent. During this period, revenue also increased by 3.5 percent to Rs 61,237 crore, which was Rs 60,583 crore in the same quarter a year ago. In the fourth quarter of the financial year 2023-24, the company received new orders worth $ 13.2 billion, which is the highest in any quarter so far. TCS CEO and MD K Keerthivasan said that amidst the challenging global environment, the company is working closely with its customers and helping them. The company’s revenue from India business, including contracts with BSNL worth more than Rs 15,000 crore, grew 38 percent.

Will the stock rise further?

In the trading session that closed on Friday, TCS shares rose by about Rs 18 and closed at Rs 4000. Earlier in the session, the share had closed at Rs 3982. The rise in TCS stock on Friday has come amid a fall of about 800 points in the market. After TCS’s profit increases and orders reach record level, experts are hopeful that the stock may rise. The 52 week high level of the share is Rs 4,254.45 and low level is Rs 3,070.30.

Indian Railways auto ticket upgradation facility, know about it in details here

The post TCS Salary Hike : Announcement of increase in salary of TCS employees by 15%, check details here first appeared on Rightsofemployees.com.

Work From Home: TCS CEO Kritivasan said at a NASSCOM event on Tuesday that he is not at all in favor of working from home. Work from home causes loss to both the employees and the company.

After this the CEO said that he feels that the employees should come to the office and work and learn from their seniors. This benefits both the employee and the company. Teamwork remains even stronger if work is done from office.

TCS CEO further says that those who have been associated with the company in the last few years have not been able to come to office till now due to work from home. Due to this, both the employees and the company are suffering losses. That is why employees should come to office and work.

Further he says that his company is continuously working on Artificial Intelligence (AI). At the same time, efforts are being made to connect more and more people with the company so that the employees can benefit from using this technology. Due to which there will be good possibilities for growth of TCS. After which we will be in a better position by next year.

If you do not come to office, action will be taken

Regarding this, TCS company ordered all its employees to work from office. Also, the company’s COO NG Subramaniam said in an interview to Economic Times that if the employees do not come to office, action will be taken against them. The dangers of cyber attacks can be avoided from the office itself.

The post TCS CEO said that work from home will cause loss to both employees and company. first appeared on Rightsofemployees.com.

Tata Consultancy Services: Tata Consultancy Services has suffered two major setbacks in a week. An American court has imposed a fine of $210 million on TCS. The company was accused by DXC Technology of stealing trade secrets. DXC was earlier known as CSC. Hearing the case of DXC, a Texas court has given this decision. However, TCS has objected to the decision and said that it will take the matter to trial again. Only last week, TCS was fined $140 million in the Epic Systems case. TCS is likely to suffer huge losses due to these decisions of the American courts.

A fine of $140 million was imposed just a week ago

Just a week ago, the US Supreme Court, while hearing the petition of Epic Systems, had imposed a fine of $ 140 million on TCS. The Indian company was accused of stealing intellectual property. After this, TCS had informed that they are expecting a loss of $ 125 million in the third quarter of the current financial year.

Gathered information about software by giving jobs

CSC and Transamerica entered into a partnership in 2014. TCS was working in collaboration with Transamerica. After this, in 2019, DXC accused TCS of giving jobs to 2200 employees of Transamerica. With its help he got knowledge about CSC software. DXC Technology was formed by the merger of Computer Sciences Corporation and Apache. The court said that TCS created its software using two software of DXC. Because of this, the charge of stealing trade secrets against them is proved.

TCS will fight further

The company spokesperson said that we respectfully oppose this decision and will approach the High Court. The company did not do any wrong in the American market. The allegations against us are not true.

The post TCS Fine: TCS was fined millions of dollars for the second time in a week, Details here first appeared on Rightsofemployees.com.

The complaint alleged that TCS was unfairly forcing its more than 2000 employees to transfer to different cities. NITES has requested the Labor Ministry to look into possible labor code violations. Along with this, a request has been made to take action against TCS.

Appeal to make new rules: According to the news of Live Mint, Harpreet Singh of NITES said that we also request the ministry to make new policies and rules regarding unethical transfer of IT employees. According to the complaint dated November 15, these forced transfers are causing immense hardship to both the workers and their families. NITES said it has received more than 180 complaints from employees.

A TCS official told Mint that these transfers are routine. However, there has been no official response from the company on this. NITES has also highlighted the lack of clarity in TCS’ communication regarding transfers. It had earlier accused TCS of delaying new appointments and demanded compensation for those affected.

The post TCS is forcibly transferring employees ? complaint reached the government first appeared on Rightsofemployees.com.

TCS COO N Ganapathy Subramaniam has said this. He said that the company is working on a plan to recruit 40,000 freshers in the current financial year. “We typically hire 35,000 to 40,000 people and those plans are still in place. We are moving in that direction,” he said. Let us tell you that TCS has 6.14 lakh employees.

These hirings are taking place in TCS at a time when this process is on hold in other companies in the IT sector. Recently, Infosys CFO Nilanjan Roy said that last year it had added 50,000 freshers and the company will not move to the campus until the demand increases.

Company stuck in hiring dispute

Tata Consultancy Services is in controversy regarding hiring scam. Recently the company has restricted business with six suppliers while laying off 16 employees. According to the company, 19 employees were found involved in the investigation, out of which 16 employees have been fired for violating the code of conduct and three employees have been removed from the responsibility of resource management. It said that six suppliers (vendors), their owners and associates have been banned from doing any business with TCS.

Work from home culture is over

Let us tell you that TCS has asked all its employees to come to the office and work, ending the work from home culture started during the Covid-19 pandemic. According to the information, 70 percent of the employees have started coming to office.

The post Good news for IT freshers: This IT company will hire 40000 employees, check all details first appeared on Rightsofemployees.com.

According to whom the news came

According to the report of English financial portal Moneycontrol, managers of different departments of TCS are asking their employees in e-mail to work from office five days a week. However, according to information received from sources, TCS will also adopt hybrid policy and flexibility so that some exceptions can be made when needed.

Instructions given in internal mail

CNBC-TV18 has seen an internal mail from TCS which reads “As informed by the CEO and Chief Human Resource Officer (CHRO) in various townhalls, for all associates from October 1, 2023 on all working days (if If there are no holidays, it is mandatory to be present in the office for 5 days every week.

This is a big change from TCS’s previous stance, which said that from September 2022, employees need to follow the roster and be in the office three days a week. It had also warned the employees of facing consequences if they did not follow this roster.

What answer did TCS give?

According to sources, the email has not been sent to all the teams and it is being sent in different ways. TCS declined to comment on Moneycontrol’s queries, saying that the company is ‘currently in a silent period’.

Know about TCS employees

TCS has 615,318 employees in the quarter ending June 30, 2023. According to the company’s annual report for the financial year 2023, the workforce that TCS has today has been hired after March 2020.

The post Work From Home Ends: Big news! Employees in this company will have to go to office 5 days a week from October 1st first appeared on Rightsofemployees.com.

The company also informed that Dr. Harrick Win, Chief Services Innovation Officer, will take over as SMP from August 1. Apart from this, the company has made many major changes, which we have explained in detail here.

Major changes in senior management positions

Dr Harrick Win is a TCS Fellow with over three decades of experience in academia and industry. Prior to this, Harrick was the head of TCS Digitate. TCS also announced that Rajshree R will no longer be an SMP. Shankar Narayanan, V Rajanna, Ashok Pai, Reguraman Ayyaswamy and Siva Ganesan will be designated as SMPs from July 31.

Who is Shankar Narayanan

Shankar Narayan is the Senior Vice President of the company and has been with TCS for over three decades. He has held key responsibilities including Global Head of Retail, CPG, Travel & Hospitality, UK and Ireland market head of TCS, among others.

About Ashok Pai

Ashok Pai is the company’s Senior Vice President and Global Head of CBO. Pai has played a huge role in helping enterprises keep pace with the digital economy.

Reguraman Ayyaswamy with TCS since 29 years

Moreover, Reguraman Ayyaswamy has been with TCS for 29 years. He is the global head of the company’s Internet of Things (IoT) and digital engineering units. He has helped build value-based solutions and services to accelerate integrated manufacturing and product development.

Who is Shiv Ganesan

Siva Ganesan, Global Head of Microsoft Business Unit, has been with TCS for over 32 years. He has experience in sales, operations, program management, delivery and global account management.

About V Rajanna

V Rajanna heads the communications, media and technology business of TCS. When he was the head of the Hyderabad center of the IT consultancy firm, he played a key role in its growth.

The post TCS has announced changes in its Senior Management Positions, know details first appeared on Rightsofemployees.com.

During the announcement of the first quarter results, TCS CFO Sameer Seksaria told that from April 1, 2023, the company has increased the annual salary of the employees. He told that the impact of 200 basis points on 23.2 per cent of the operating margin is being seen due to salary hike. TCS’s Miling Lakkar told that the company has given a salary hike of 12 to 15 percent to the outstanding performers. Apart from this, promotion has also been given.

TCS has added 523 new employees during the first quarter of April to June. The company said that the attrition rate has come down. This means that the number of people resigning from the company has decreased. By June 30, 2023, the number of employees of TCS has increased to 6,15,318. Due to the global crisis and the slowdown in the IT sector, there is a decrease in hiring.

The company said that citizens of 154 countries are deployed in TCS as workforce, in which 35.8 percent are women. Milind Lakkar said that our focus is on developing the best talent, retaining them and rewarding them. He told that 55 percent of the workforce is now coming to office three days a week.

There has been news of salary hike in TCS, whereas earlier it was told in some media reports that Infosys, another giant IT company, has postponed the decision of salary hike. This is believed to be the result of the global crisis on the IT sector.

The post TCS Salary Hike: TCS gave good news to the employees by increasing the salary, Best performer got up to 15% salary hike first appeared on Rightsofemployees.com.

The deadlines for some schemes related to money have been extended and are now coming in the month of July. Here are the deadlines that have been extended and their new dates have been released. These include Higher EPS Pension, TCS on Foreign Remittance and SBI Investment Schemes. In such a situation, to avoid any problem at the last moment, the people taking advantage of the schemes must complete the related work before time.

EPS Higher Pension

Employees’ Provident Fund Organization (EPFO) has extended the deadline for choosing higher pension till July 11, 2023. EPFO has once again extended the deadline for applying for higher pension for EPS subscribers. EPS members have been given 11 more days to make joint application for higher pension. EPFO has also provided three months time to the employers to upload the salary details online.

Higher TCS rate on foreign remittances

Budget 2023 has increased the Tax Collected at Source (TCS) on foreign remittances through the Liberalized Remittance Scheme (LRS) from the existing 5 per cent to 20 per cent, except in certain cases. The new TCS rates were to be implemented from July 1, 2023, but now the deadline has been extended to October 1, 2023.

SBI We Care

State Bank of India (SBI) has extended the last date for senior citizens to invest in its special Fixed Deposit (FD) scheme. According to the SBI website, the deadline for investing in SBI WeCare Senior Citizen FD has been extended till September 30. The minimum investment period is 5 years and the maximum period is 10 years. The bank gives 7.50% interest rate to the investors.

SBI Amrit Kalash FD

State Bank of India (SBI) has extended its ‘Amrit Kalash’ special FD scheme for retail customers. SBI Amrit Kalash scheme has been extended till 15 August 2023. Earlier this scheme was valid for investment till June 30. According to the SBI website, it offers an interest rate of 7.1% for regular customers and 7.6% for senior citizens on FDs with a tenure of 400 days.

The post 4 Deadline Extended: Deadline extended for 4 schemes including higher EPS pension, TCS on foreign remittances, note new dates first appeared on Rightsofemployees.com.

This is the first time that the chairman of the company has openly given information about this. The company had set up an inquiry regarding irregularities in the recruitment process. Regarding the investigation, he said in the AGM, “We found that 6 employees did not follow the ethical conduct.

At the moment we cannot say what favors they got in return, but it is certain that they acted in such a way that those firms got benefited. We have banned all those six employees and companies. Investigation is on against three more employees.”

Ethical conduct is more important than money.

In his address, the TCS chairperson said that ethical conduct and integrity come before financial performance for any Tata Group company, and every employee is expected to follow them. Whenever these are violated by any employee in the Tata Group, we take it very seriously. We will take strict action in this matter. Along with this, he said that the company will take necessary steps to prevent such incidents from happening in the future.

How did the matter come to light?

Chandrasekaran told that in February-March this year, two whistle blowers drew attention to this matter. These whistle blowers complained to CEO K Krithivasan and COO Natarajan Ganapathy that some employees have shown favoritism and favors in the recruitment of Business Associates. Basically TCS recruits people in two ways. One is from the hiring side, who recruit people for different departments. However, many times when people with particular skills are needed for a project, their hiring is done by business associate firms on a contract basis.

Business associates make up two to three percent of the company’s total work force at any point of time. In the complaints received by the company, it was written that some employees of the company are hiring people in their favor by working with some BA firms.

The chairperson said, “TCS works with many BA firms. The company hires a BA firm after a difficult process. The company works with around 1000 such firms across the world, as the company needs to hire workforce in 55 countries.

In its investigation, TCS found two cases of giving favors to BA firms. One in India and one in the US. India’s case was investigated by a senior officer of the company, while America’s case was investigated by an external officer. After being found guilty in the investigation, the company took action against six employees and six BA firms.

Chandrasekaran told that no key managerial person of the company was involved in this matter. He also said that there was no fraud by the company or against the company and there was no financial loss.

The post TCS Employees fired! Big news! TCS has fired its 6 employees and also banned them first appeared on Rightsofemployees.com.

TCS has been a topic of discussion since last days . But TCS is not a company but it means tax collection at source. From July 1, on foreign travel, the government has made a rule to collect 20 percent TCS for those who pay by credit card. Since then, the atmosphere of discussion on this has heated up.

Not only this, from May 16 onwards, the government had also announced the inclusion of payments made through credit cards abroad in the LRS i.e. Liberalized Remittance Scheme. The result of which is that within a financial year, more than 2.5 million dollars cannot be paid abroad through credit cards. And those who have to pay more than this have to first take permission from RBI.

Know in these 5 points how much TCS you will have to pay on foreign remittance transaction –

1. When you transfer money abroad for remittance, travel and investment under LRS or Liberalized Remittance Scheme, you will have to pay TCS on that.
2. From July 1, 2023, 20% TCS will have to be paid on all remittances except for education or medical treatment.
3. TCS will be 5% on the amount above Rs 7 lakh for education and medical treatment abroad.
4. This amount deducted can be claimed as credit at the time of filing tax as income tax refund or while computing advance taxes.
5. Any payment made by international debit or credit cards up to Rs 7 lakh per financial year is excluded from the LRS limit and no TCS will be levied.

Suppose you pay five lakh rupees through credit card while traveling abroad. So for that you will have to pay Rs 6 lakh as credit card bill. Because the credit card company will charge TCS of 20 percent on Rs 5 lakh. Which will be deposited with the Government of India. 

TCS will have to be paid on every transaction (except for certain exemptions) done on your credit card abroad. Buying goods from foreign websites and getting them delivered in India also comes under TCS. However, you can claim it while filing the tax return.

The post Foreign transactions Charges: How much TCS will be charged on foreign transactions, know 5 important things first appeared on Rightsofemployees.com.

It is possible that the bank will have to inform about the purpose of spending abroad through credit card, the Income Tax Department will issue the card in case of TCS (tax collected at source) on the expenditure incurred through credit card abroad. Is considering to make a provision to give proper information to the paying bank within the stipulated period. Official sources said that in this context, the Income Tax Department is also in talks with the Reserve Bank of India and other stakeholders to make an appropriate arrangement.

Which rule is being discussed?

The discussion is going on at this point that the purpose of credit card spending abroad should be given to the issuing bank within a fixed time. If the amount spent abroad is for education or medical treatment, then 5 percent TCS will be charged on it, while 20 percent TCS will be charged on the expenditure for other purposes. The provision of imposing TCS is going to be applicable from July 1 on the expenses made by credit cards abroad.

Tax department will issue FAQs on TCS

The Income Tax Department will also issue a detailed list of questions and answers regarding the process related to TCS charges levied on foreign currency expenses incurred under different heads. From the next month onwards, 20 per cent fee will be charged if the expenditure incurred abroad on credit card exceeds Rs 7 lakh. However, if there is expenditure related to education and medicine, this fee will be reduced to five percent. For those taking loans for education abroad, a fee of 0.5 percent will be charged on the amount above seven lakh rupees.

The post Big update came on Credit Card TCS, income tax can implement this rule first appeared on Rightsofemployees.com.

Be ready to spend more on your foreign tour from the month of July. Because, from July 1, 2023, 20 percent tax collected at source ( TCS ) will be applicable on foreign tour packages. At present, if you book a foreign tour package, you have to pay 5% TCS. From next month you will have to pay more cost while traveling.

20% TCS will be applicable from 1st July 2023

If you are planning to do international travel soon, then you must understand the new rule related to this TCS (20% tcs on overseas tour packages) and also know that you can charge your car Which option can be adopted to save the earning.

Use an International Debit or Credit Card Limit of Rs.7 Lakh

If you book your foreign tour through domestic travel agents or online portals, you will have to bear the brunt of TCS. But, if you take tour packages offered by international websites and pay through international debit and credit cards, there will be no TCS if the payment is within the limit of Rs 7 lakh. Because, the Finance Ministry said on 19 May 2023 that from 1 July 2023, no TCS will be levied on personal payments using international debit or credit cards up to Rs 7 lakh in a financial year.

Choose a different booking and payment method

Ankit Jain, partner, Ved Jain & Associates, says that TCS of 20 per cent is levied on foreign tour packages. Individuals can choose to book their flights, hotels and tourist places separately to form tour packages and avoid TCS. So if you buy your flight ticket directly from Air India or Vistara or Indigo, there will be no TCS. Similarly, if you book your hotel directly from the website of the concerned hotel and make the payment by debit or credit card, then you will not have to pay TCS. However, the limit for these payments is Rs 7 lakh.

Buy foreign exchange by June 30, 2023 to avoid higher TCS

Many people on international tours prefer to buy foreign exchange or use a forex card instead of using their debit or credit cards. You can buy foreign currency or forex card till 30 June 2023 to avoid paying more TCS.

Sudarshan Motwani, Founder and CEO of BookMyForex.com, said that the Reserve Bank of India (RBI) allows you to buy foreign currency or Foreign Currency Travel Card up to 60 days before the date of your travel. If you are planning to travel any time from now till the end of August, you can buy your Forex or Foreign Currency Travel Card before the end of June and save 20 per cent at TCS.

The post 3 ways to avoid 20% TCS on foreign tour packages, new rule applicable from July 1 first appeared on Rightsofemployees.com.

“If we will not work from home, we will leave the job…” This is not us but the women employees of India’s giant company TCS i.e. Tata Services Consultancy are saying. 6 lakh employees work in this company of Tata. These days resignations are coming in TCS. The reason for this is to end the work from home culture of the company. Yes, the company has recently abolished work from home and has asked its employees to come to the office and work. The female employees of the company did not like it, and they have said to leave the job.

TCS has about 6 lakh employees. Now in such a situation, out of the total strength of the company, 35 percent women employees i.e. more than 2 lakh employees have threatened to leave the job if they do not get work from home. At the same time, some women have even resigned from the job.

HR said this

TCS Chief HR Milind Lakkad said in a media report that after the end of the work from home culture, women employees of the company have started giving rapid resignations. The company gives more priority to women at the time of hiring. In such a situation, 35 percent strength of the company is of women. Generally see the data of resignations, the number of women remains less than that of men. But, after the work from is over, this limit has suddenly increased.

6 lakh employees work

More than 6,00,000 people work in TCS. It has 35 percent women employees. After the end of work from home, the limit for resignation of women employees is increasing. He directly says that if he does not give work from home, he will leave the job… Due to the increasing resignations, the company is worried about whether the work of the company can be affected due to the end of work from home?

WFH started at the time of Corona

During the Corona period, all the companies had started the facility of working from home. This made the work of women employees very easy. She used to work from home by setting up an office at home. However, after the situation improved, the company ended work from home and started working from office, then women employees are facing difficulties in coming to work in office. Because of which women are resigning quickly.

The post Work From Home: If you do not give work from home then you will leave your job… 2 lakh women employees of TCS threatened first appeared on Rightsofemployees.com.

This will be useful in relation to levy of TCS (Tax collected at source) on credit card expenses abroad. A senior official said on Friday that the situation would be clarified by issuing an FAQ on levying 20 per cent ‘tax collection at source’ (TCS) on credit card payments abroad. The system of collecting TCS is going to be implemented from July 1.

It was announced to bring under the ambit of LRS

The ministry had decided to bring the expenses incurred through international credit cards under the ambit of the Liberalized Remittance Scheme (LRS), due to which 20 per cent TCS is applicable. Experts and concerned parties had expressed a sharp reaction to this. A concern was also raised about how personal and business expenses would be segregated by the banks. On this, Raman Chopra, Joint Secretary (Tax Policy and Legislation) in the Ministry of Finance, said that the government will soon issue a clarification on the implementation of the TCS provision.

Clarification will be issued after deep discussion

He said in a program of Industry Board CII, “There has been a lot of discussion with the Finance Secretary, Revenue Secretary and Finance Minister. We are definitely going to bring some clarifications and FAQs on that. This will clarify the position regarding the doubt as to how TCS is to be collected and to what extent it will not be collected. He was replying to a question on how the tax department would differentiate between business travel and personal travel for taking TCS on credit card expenses.

The post Tax department will issue FAQ regarding TCS on foreign spending from credit card, rule is applicable from July 1 first appeared on Rightsofemployees.com.

India’s largest IT company Tata Consultancy Services (TCS) has issued a strict order regarding the return to its office policy. The company has started sending memos to those employees who are not completing at least 12 days work from office in a month.

The memos warned the employees that disciplinary action would be initiated if they did not follow the roster. This memo states that you are hereby warned and directed to start reporting to work from your office location with immediate effect.

During the Corona period, companies had given the facility of work from home. Companies have reopened their offices when the cases of Corona decrease. But many employees are not coming to office. Instead of working from home. There is a tussle between the management and the employees in many companies regarding this.

What is the company’s

Policy When asked about the company’s policy, the company said that many people have joined the company in the last two years, and it is important for the employees to know the place better so that the results are good. TCS believes that working from office helps in fulfilling the purpose and the company expects people to work from office for a few days. So, it is making sure that the employees follow the rules. In October, the company had told its employees that the manager would roster them (call to office) three days a week, which they have to follow.

If the employee does not come, the salary will be deducted and leave

TCS told the employees that work from home will not be promoted except for medical emergency. TCS was one of the first IT services companies to call its employees back to office. It is also the only company so far to strictly implement it. The company also informed that the salary or leave of the employees who do not follow the roster will be deducted.

The post TCS Company New Order! If the employee does not come to the office, salary and leave will be deducted first appeared on Rightsofemployees.com.

The ministry said that if a person spends up to Rs 7 lakh abroad with an international credit or debit card, he will not have to pay TCS. Meaning that the expenditure up to 7 lakhs has been excluded from the purview of the Liberalized Remittance Scheme (LRS) of the Reserve Bank of India (RBI).

According to a media report, the Finance Ministry clarified, “Concerns have been raised regarding the applicability of Tax Collection at Source (TCS) for small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. In order to avoid any procedural ambiguity, it has now been prescribed that the amount spent by an individual using his international debit or credit card in a financial year up to Rs.7 lakh has been excluded from the LRS limit, And hence TCS will not have to be paid on it.

Notifying the Foreign Exchange Management Amendment Rules 2023, the Finance Ministry on Tuesday announced the inclusion of expenses incurred abroad through international credit cards in the Liberalized Remittance Scheme (LRS). Its purpose was to ensure that such expenses come under the ambit of Tax Collection at Source (TCS).

Earlier card payment was not in the ambit of LRS

Prior to this notification, international credit card payments for expenses incurred while traveling abroad were not eligible for LRS. The Finance Ministry, in consultation with the RBI, issued a notification and removed section 7 of the Foreign Exchange Management Rules, 2000. Due to this, payments made abroad through international credit cards also came under the ambit of LRS.

New tax rate will be applicable from July 1

Earlier this year, in the budget presented for 2023-24, the TCS rate was increased from 5 percent to 20 percent. The new tax rate is going to be implemented from July 1, 2023. Under this, except for education and medical expenses, it has been said that these rules will be applicable on foreign tour packages or other expenses under LRS.

The post TCS New Update: No 20% tax on credit card spends abroad up to Rs 7 lakh – Details Here first appeared on Rightsofemployees.com.

Its information was given by the government through notification. It has been decided to bring the expenses incurred abroad on international credit cards under the ambit of LRS. Its indirect effect will be that TCS will be imposed. Means it will be shown in the total tax liability. This is similar to how ITC is available in GST.

What does the notification say-

The Finance Ministry said in the notification that in the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 (Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023) Liberalized Remittance Scheme (Liberalized Remittance Scheme ( LRS)) will cover international credit card payments.

The notification states that Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000 (Foreign Exchange Management (Current Account Transactions) Rules, 2000) has been deleted, which provides for travel expenses outside India under LRS. Brings the use of international credit cards to completion.

The notification brings credit card transactions outside India under LRS with immediate effect, under which more TCS will now be levied. According to the budget, it will come into force with effect from 1 July 2023.

Earlier, the use of credit cards abroad during travel was not covered under LRS. This previously included debit cards, forex cards and bank transfers.

[web_stories title=”true” excerpt=”false” author=”true” date=”true” archive_link=”false” archive_link_label=”” circle_size=”150″ sharp_corners=”false” image_alignment=”left” number_of_columns=”1″ number_of_stories=”4″ order=”DESC” orderby=”post_title” view=”carousel” /]

What does this mean for the common man- Credit cards used outside India will now attract a higher rate of TCS of 20 per cent with effect from July 1. This is because credit card transactions done outside India will come under the purview of LRS with immediate effect.

TCS of 5 percent will be imposed on such transactions till July 1, except in the sectors related to medical and education.

However, after July 1, a 20 per cent fee will be charged on all such transactions. Under the LRS scheme, Indian residents are allowed to remit up to $250,000 (approximately over Rs 2 crore) every year without any pre-approval from the Reserve Bank of India.

While calculating the LRS limit of $250,000 per person in a financial year, the use of international credit cards for overseas travel or online international purchases by Indians was not included.

Protest on social media- Many people have expressed concern over this move of the government. Especially in this, businessmen and people going abroad in connection with work are included. Tagging Nirmala Sitharaman, a user named Ajay Roti wrote that TCS should not be increased on the international use of credit cards as it can affect many business trips, especially those that are incurred by the company. He further said that 20% TCS is too much. That’s why this proposal should be dropped here.

Many users believe that 20% TCS on the use of credit cards abroad will affect the business. Meanwhile, most of the users posted memes to criticize the move.

Cleanliness of the Ministry of Finance

The Finance Minister has issued a clarification regarding the tax on credit cards. The Finance Ministry has taken this decision to stop those who ignore LRS. LSR stands for Liberalized Remittance Scheme. The decision has been taken to find out all the expenses incurred under LRS.

Many people used to exceed the limit of LRS due to credit card transactions abroad not being included in LRS. This decision was taken to eliminate the difference between debit card and credit card. The Reserve Bank had recommended several times to include credit card transactions abroad in the LRS.

The post New rules for your credit card: Government announced 20% TCS, know new rules first appeared on Rightsofemployees.com.

The government has changed the rules of income tax. If the income from Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) of an individual exceeds Rs 25,000 in a financial year, then filing of return has been made mandatory for him. According to the new rule, if the income of an individual is less than the exemption limit of 2.5 lakh, but TDS and TCS income is 25 thousand or more, then it is necessary to file a return for that.

The post New rule issued regarding tax return, if income from TDS and TCS exceeds 25 thousand then it is necessary to file return first appeared on Rightsofemployees.com.

In the hustle and bustle of filing income tax return, you have not forgotten to file your tax deducted at source (TDS) return. If you do not file your TDS return before the stipulated time, then you may have to face a hefty fine along with late fees.

If there is a mistake in filing the TDS return, then the Income Tax Department charges a lit fee of Rs 200 per day. Not only this, if you have filed your return late, then the department can also end all your claims. In such a situation, while filing the return, first of all he charges you a lit fee for the delay, after that he imposes a fine. In this case, the Income Tax Officer can impose a fine ranging from a minimum of 10 thousand rupees to a maximum of 1 lakh rupees. You cannot file TDS return without paying late fee and the late fee should not exceed the amount of TDS.

When is the last date

for filing return If you also want to file TDS return and want to avoid late fee and penalty, then do not forget to file it before time. TDS return is filed every quarter and the last date for filing TDS return for the first quarter of the current financial year is 31st July. Since this is also the last date for filing income tax returns, many taxpayers can get confused about it
.

You must be aware that the TDS return should be filed by the last date of the month following the end of every quarter. This means that the return for the April-June quarter should be filed by July 31, the return for the July-September quarter by October 31, the return for the October-December quarter by January 31 and the return for the January-March quarter by May 31.

What Documents

Required To file TDS return, the taxpayer needs to have Form 16 or 16A, which is a certificate of deduction of tax on any type of income. It contains all the details that the employer would have paid the tax in lieu of the employee. Taxpayers can also assess their TDS, TCS and Advance tax through Form 26AS.

The post TDS Update: If you want to avoid late fee of Rs 200 and fine of Rs 1 lakh, then file TDS return on time first appeared on Rightsofemployees.com.

In fact, now it has been made mandatory to file ITR for every person whose Tax Deduction at Source ie TDS and Tax Collection at Source ie TCS (TCS) is Rs 25,000 or more during a financial year.

What is the new rule

According to the new rule, if the income of a person is less than the exemption of Rs 2.5 lakh but the income from TDS and TCS is Rs 25,000 or more, then now he will have to file ITR. Explain that this new rule will be applicable in the case of senior citizens if TDS or TCS is more than Rs 50,000.

What did CBDT say?

The Central Board of Direct Taxes (CBDT) issued a circular in this regard saying, “These rules may be called the Income Tax (Ninth Amendment) Rules, 2022. They shall come into force from the date of their publication in the Official Gazette. “CBDT has notified a new rule 12AB vide notification number 37/2022.According to this, even if the income of a person is less than the exemption limit, it is mandatory to file ITR.

Apart from this, those whose deposits in the savings bank account are Rs 50 lakh or more in the financial year will also have to file income tax return. Also, those businessmen will also be covered under this rule whose annual turnover is more than Rs 60 lakh and professional receipt is more than Rs 10 lakh. Regardless of the tax bracket he falls in, it will be mandatory to file ITR.

According to a report in Business Standard, government sources have told that this new amendment has been done with the aim of finding out the imbalance in the income and expenditure of such people. These new rules are effective from April 21.

The post Big change in the rules for filing ITR: TDS / TCS is more than ₹ 25,000, so now it is necessary to fill ITR first appeared on Rightsofemployees.com.

ITR Filing Last Date is fast approaching. Many people have filed tax returns, but there are many people who have not yet filed ITR. Till now the government has not extended the last date for filing ITR. In such a situation, you should also file ITR by July 31. If you wait till the last date, then maybe later due to overcrowding, the website may start having problems. In such a situation, you should file ITR as soon as possible. Let us know which 9 things you should keep in mind before filing ITR.

1- First download Form-16 or 16A

The post ITR Filing Checklist: ITR filers must see this checklist of 9 things first appeared on Rightsofemployees.com.