Meesho has received an income tax demand notice of nearly ₹1,500 crore from the Income Tax Department for the assessment year 2023–24, according to a regulatory filing by the company.
The notice, which includes applicable interest, was issued after tax authorities conducted a scrutiny assessment of the company’s financial records. The assessment resulted in certain additions and adjustments to the income reported by Meesho in its tax returns, leading to the tax demand.
According to the filing, the Assessment Unit of the Income Tax Department raised a total demand of ₹1,499.73 crore, following an order issued under Section 143(3) of the Income Tax Act, along with a demand notice under Section 156.
Meesho said it is currently reviewing the assessment order and does not agree with the observations made by the tax authorities. The company added that it has adequate legal and factual grounds to challenge the demand and will take appropriate legal steps to protect its interests.
The company also clarified that the tax demand is not expected to have a material adverse impact on its financial position or day-to-day operations while it pursues legal remedies.
