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Last month, the tax department had written to Walmart saying that the US company can seek guidance about the tax liability under Section 195 (2) of the I-T Act E-commerce major Flipkart has shared 'some details' with the I-T authorities on its USD 16 billion deal with US-based Walmart, but the tax department will act only after regulatory approvals have been obtained, an official said. The department is currently studying the details received from the company, the official said, adding that they can issue notices seeking details of taxes withheld once the transactions are completed. Last month, the tax department had written to Bentonville -Arkansas based Walmart saying that the US company can seek guidance about the tax liability under Section 195 (2) of the I-T Act. Under Section 195 of the Act, anyone making payment to non-residents is required to deduct tax (commonly known as withholding tax). The official said Flipkart has filed "some details...

In this Sep 2016 interview with   Business Standard , Bansal said firm was all about team work Latest News   : In September 2016, after growth slowed in the first six monthsof the year, the e-commerce companies in the country were gearing up for the festive season that would see big sales. Leading the pack was Flipkart, the largest Indian e-commerce firm. In a telephonic interview with   Business Standard 's   Alnoor Peermohamed ,   Binny Bansal, the then CEO of Flipkart , had said the e-commerce giant was neither run him nor by Kalyan Krishnamurthy, the Tiger Global executive who has now been appointed the CEO of Flipkart. The e-commercemajor was all about team work, Bansal had said. Bansal had also said that the company had 100 million users. This growth occurred despite competition from the international e-commerce giant Amazon becoming aggressive in India.   T he task now was to convert the 100 million to shop every month on its platform, even a...