Flipkart's overseas investors served tax notices over Walmart deal
The Income Tax Department has issued notices to overseas investors involved in Walmart's $16-billion acquisition of Flipkart. The notices seek details such as their holdings, sale value and the tax liability discharged in India. Earlier, the department had also issued notices to Flipkart Co-founders Sachin Bansal and Binny Bansal alongside 35 other shareholders to disclose their total earnings.