Sachin Bansal Pays Advance Tax Of A Whopping Amount In the profit Of Selling 5% Of Flipkart

At whatever point there is a major stream of money, the taxman is dependably there to gather his levy. Same was the situation with Sachin Bansal when he sold of his 5% stake in India's biggest online business site Flipkart to Walmart. 

699 Crores of Tax? 

Sachin Bansal purportedly paid the aggregate of Rs. 699 crore as Advance Tax for the principal quarter of 2018-19. This whole incorporates the expense he needed to pay for his Capital Gains by auctioning off his stake in the organization he helped to establish, Flipkart. 

Is this true?

The Tax Department had sent notification to Sachin and Binny Bansal and Walmart to unveil their capital increases through this exchange. Sachin sold off his 5% in Flipkart for a rough measure of $1 Billion (Rs.7,000 crore). While Sachin has effectively cleared his contribution with the Tax Department, Binny Bansal is yet to reveal off his capital additions from the deal. 

Another organization: BAC Acquisitions 

After the deal, Sachin Bansal enrolled another organization called BAC Acquisitions. The objective of the organization is by all accounts of putting resources into and getting Indian new companies. Bits of gossip recommend that Sachin will put around $100 million in the taxi hailing organization Ola. The sum is almost a similar that he is settling as Government expense.

SHARE

The veentrad

• 
• 
• 
• 
•