His partner Binny Bansal is yet to disclose capital gains made on his stake sale in the e-commerce platform.
Flipkart co-founder Sachin Bansal has deposited Rs 699 crore as advance tax, including his capital gains tax from the Flipkart-Walmart deal, for Q1 FY19, according to a report by The Times of India.
His partner Binny Bansal, however, is yet to disclose capital gains made on his stake sale in the e-commerce platform, sources in the Income Tax Department told the paper. Both Bansals held more than five percent stake each in Flipkart.
Earlier, the I-T Department had issued notices to Flipkart founders Binny and Sachin Bansal to disclose their total income from the Walmart-Flipkart deal. The department had sent notices to Flipkart's promoters as well as 35 other stakeholders.
In May, global retail giant Walmart acquired a 77 percent stake in Bengaluru-based online retailer for $16 billion as it forayed into India's exploding e-commerce market.
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