Meesho
Meesho shares slide 10% after IT Department raises ₹1,500 crore tax demand
Mumbai/IBNS: Shares of Meesho fell nearly 10 percent on Monday after the Income Tax Department of India issued an assessment order raising a tax demand of ₹1,499.73 crore against the company, media reports said.
The tax demand pertains to the financial year 2023–24.
Following the development, the stock was trading about 10 percent lower at ₹143.8.
According to the company’s disclosure, the tax department issued the order after making additions and adjustments to Meesho’s income for the year.
Responding to the development, Meesho said it is currently evaluating the assessment order but does not agree with the adjustments made by the tax authorities.
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