The Income Tax Department has announced that it will wait until September 7 to settle Walmart’s withholding tax on payments made to about over 40 shareholders who are leaving the e-commerce firm, as a part of its acquisition deal Flipkart.
Notably, the deal took its final shape recently (in mid-August) and according to the provisions of the I-T law in the country, Walmart is supposed to deduct withholding tax on payments made to sellers and pay it to the Indian authorities on the seventh day of the subsequent month, in the current scenario, that is 7th September.
Reportedly, the US-based retailer has not approached the I-T department for the same. However, some shareholders that are leaving the company have asked for guidance on their tax liability.
It remains to be seen when Walmart fulfills its tax obligations, because if the retailer misses the deadline, which is 7th September, the tax department then is liable to take strict actions against the American retailer.
However, if the Walmart fails to deposit the correct amount of taxes, then the department will write to Walmart asking for details of taxes deducted and the reasons for failing to deposit the required amount.
Here is the Walmart-Flipkart deal’s whole story in pictures:
Bharat Tex Special Report 2026 
