New Delhi: Flipkart founders Sachin and Binny Bansal may have to pay 20 per cent capital gains tax if they sell their shares in the company as part of the proposed deal with US retail giant Walmart, say tax experts. The Indian e-commerce major is in discussions to sell majority holding to Walmart and an announcement to this effect is likely to be made soon, sources close to the development said. Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global and Japanese conglomerate Softbank, to end up with 60-80 per cent holding for roughly USD 12 billion. According to experts, there would be two taxation angles to the deal once it goes through. The first will be taxation of capital gains earned by the sellers (Flipkart investors). Secondly, whether Flipkart India is allowed to carry forward the losses for the adjustment against income tax payable by the company.
Agencies
