Sachin Bansal has deposited Rs 699 crore as advance tax for the first quarter of 2018-19 which includes capital gains tax from his income from Flipkart’s sale to Walmart.
Sachin’s tax payments is part of his advance tax obligation for Q1 of the current fiscal year. Flipkart is a Singapore-registered company, and SoftBank and eBay were its major shareholders prior to its sale to Walmart on May 9. 2018 (via: ToI).
Leaving the issue around capital gain liability, this number (i.e Rs. 677 crores in tax) is a HUGE one to look up to and represents the glorious (and badass) side of entrepreneurship.
What’s your 2019 goal?
