Walmart-Flipkart deal: Buyout liable to tax in India; I-T Dept awaits formal pact – Chirag Nangia
Flipkart founders Sachin and Binny Bansal may have to pay 20 per cent capital gains tax if they sell their shares in the company as part of the proposed deal with US retail giant Walmart, say tax experts. The Indian e-commerce major is in discussions to sell majority holding to Walmart and an announcement to this effect is likely to be made soon, sources close to the development said.
1. Chirag Nangia, Director shares his views on aforementioned story for following publications: