Meesho gets Rs 1,500 crore tax demand for alleged under-reporting of income

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Ecommerce marketplace Meesho, which went public in December, has received a tax demand of nearly Rs 1,500 crore from the income tax department for allegedly under-reporting its income for the financial year 2022-23, according to a regulatory filing with stock exchanges.

The company said it is evaluating the order and that the demand notice does not have any material adverse impact on its financials. “As per the assessment order… the income tax department has made certain additions/adjustments to the income reported by the company,” Meesho said…



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Meesho gets Rs 1,500 crore tax demand for alleged under-reporting of income



Ecommerce marketplace Meesho, which went public in December, has received a tax demand of nearly Rs 1,500 crore from the income tax department for allegedly under-reporting its income for the financial year 2022-23, according to a regulatory filing with stock exchanges.

The company said it is evaluating the order and that the demand notice does not have any material adverse impact on its financials. “As per the assessment order… the income tax department has made certain additions/adjustments to the income reported by the company,” Meesho said…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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