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Tax department to seek share purchase agreement from Flipkart following Walmart deal

Updated : May 14, 2018 07:00 AM IST

Singapore-registered Flipkart Pvt Ltd holds majority stake in Flipkart India.
Walmart will acquire about 77 percent stake in the Singapore entity for $ 16 billion.
Under Section 195 of the Act, anyone making payment to non-residents is required to deduct tax.
Tax department to seek share purchase agreement from Flipkart following Walmart deal

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