Will fulfill Flipkart deal's tax obligations: Walmart to I-T
US retail giant Walmart has reportedly assured the Income Tax Department that it will fulfil all tax obligations on its proposed acquisition of Flipkart. However, Walmart has not yet approached the tax department for consultation with regard to computation of tax liability. In May, Walmart agreed to acquire 77% stake in Flipkart, valuing the e-commerce company at about $21 billion.