910
8 days ago
Meesho share price tumbles 10% after ₹1,500 crore tax demand for FY24
Summary
Meesho share price slumped 10% on Monday, March 9 following the e-commerce platform's receipt of an income tax demand totaling nearly ₹1,500 crore for the assessment year 2023–24, as reported in a stock exchange filing on March 7.
The company stated it plans to contest the order through legal channels. As per the disclosure to the exchange, the demand was made through an assessment order issued under Section 143(3) of the Income Tax Act, accompanied by a demand notice under Section 156. The overall demand is ₹1,499.73 crore, including interest, as noted in the filing.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight ...Read More
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The company stated it plans to contest the order through legal channels. As per the disclosure to the exchange, the demand was made through an assessment order issued under Section 143(3) of the Income Tax Act, accompanied by a demand notice under Section 156. The overall demand is ₹1,499.73 crore, including interest, as noted in the filing.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight ...Read More
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
AI Description
Meesho's share price fell by 10% following a significant tax demand. The company plans to legally contest the order.