Flipkart is relocating its headquarters from Singapore to India
India TodayNandini Yadav
Flipkart is relocating its headquarters from Singapore to India
Flipkart says it is relocating its headquarters from Singapore to India. The company says the move “represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy.”
10 months ago
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Flipkart to relocate its holding company from Singapore to India
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Flipkart Co-Founder Binny Bansal thought moving to Singapore as NRI would save him ₹162 crore in taxes. He spent 224 days in Singapore—well above the 182-day NRI threshold—sold his shares from Singapore, and believed he was safe as an NRI. The tax department disagreed demanded the tax —he went to court and the court just upheld a ₹162.54 crore tax demand against him. One NRI regulation blindspot cost him everything—watch to learn what went wrong and how you can avoid this mistake. 👆​​​​​​​​​​​​
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Flipkart Co-Founder Binny Bansal thought moving to Singapore as NRI would save him ₹162 crore in taxes. He spent 224 days in Singapore—well above the 182-day NRI threshold—sold his shares from Singapore, and believed he was safe as an NRI. The tax department disagreed demanded the tax —he went to court and the court just upheld a ₹162.54 crore tax demand against him. One NRI regulation blindspot cost him everything—watch to learn what went wrong and how you can avoid this mistake. 👆​​​​​​​​​​​​
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