Flipkart Shareholders hit by notice by I-T department
Image Credit: Shortpedia
The Income Tax Department has hit the overseas shareholders of Flipkart with a notice seeking the details of their holdings, the sale value, and the tax liability settled in India. The Flipkart shareholders have sold their stakes partly or fully during the $16 Bn Walmart takeover of Flipkart. This scene has come just after the Flipkart co-founders and 35 other stakeholders were hit by notice sent by I-T Dept.