699 Crore Paid in Tax : Sachin Bansal on Capital gain from Flipkart’s Acquisition

Sachin Bansal has deposited Rs 699 crore as an advance tax for the first quarter of 2018-19, which includes the capital gains tax on its income from the sale of Flipkart to Walmart.

Sachin’s tax payments are part of your anticipated tax liability for the first quarter of the current fiscal year. Flipkart is a company registered in Singapore, and SoftBank and eBay were its main shareholders before its sale to Walmart on May 9, 2018 (through: ToI).

Leaving the issue of responsibility for capital gain, this number (ie, Rs. 677 million tax) is HUGE to admire and represents the glorious (and hard) side of entrepreneurship.

What is your goal for 2019?