New Delhi : US-retail major Walmart may approach Indian authorities seeking withholding tax certificates for determining the tax liability in the $16 billion Flipkart buyout deal.
Following CCI’s nod to the Walmart-Flipkart deal, the I-T department expects Walmart to approach it under Section 197 of the Income Tax Act within a fortnight.
“We were told that the deal would be closed within a week of the Competition Commission of India (CCI) approval. So we expect them to file with the I-T
authorities seeking withholding tax certificate under Section 197 within a fortnight,” an I-T official said.